Financial News
[Pangyo Accelerating] 2024 4th Pangyo Startup Investment Exchange 'In-Best Pangyo' concludes successfully: Connecting startups and investors through open innovation
November 21, 2024 at 03:00 AM EST
On November 14, Gyeonggi-do hosted the 2024 4th Pangyo Startup Investment Exchange, In-Best Pangyo. The event connected 17 startups with 23 investors via seminars, IR pitches, and consultations, fostering open innovation and global startup growth.
SEONGNAM, KOREA, November 21, 2024 /24-7PressRelease/ -- On November 14, Gyeonggi-do hosted the 2024 4th Pangyo Startup Investment Exchange, In-Best Pangyo, at the Startup Campus of the 2nd Pangyo Corporate Support Hub.
The event aimed to discover outstanding startups in Pangyo Techno Valley and enhance their investment potential.
The Gyeonggi-do Business & Science Accelerator (GBSA) and Korea Land & Housing Corporation (LH) co-organized the event based on a mutual agreement to support and facilitate business exchanges in Pangyo's 1st and 2nd Techno Valleys. The Gyeonggi Center for Creative Economy & Innovation (GCCEI) also contributed, emphasizing startup growth across the Pangyo Techno Valley.
The event gathered notable participants, including Han-Gyu Jung, Director of Gyeonggi's Advanced Mobility Industry Division; Jun Woo Lee, Director of GBSA's Techno Valley Innovation Department; Changsoo Ryu, Head of LH's Seongnam Division; 23 domestic and international venture capital firms; and 17 selected startups.
The program featured an opening ceremony, seminars, startup IR pitching, one-on-one investment consultations, and networking sessions. The seminars focused on open innovation, with Sung-eun Yang, Head of C&D Innovation at Daewoong Investment, sharing case studies and strategies in bio-healthcare open collaboration and Sena Oh, Team Director at KT, discussing insights from open innovation partnerships between startups and large corporations.
During the IR pitching session, 12 selected startups showcased their innovative technologies and business models. Highlights included MirrorRoid's Mirart, a virtual mirror technology offering precise hairstyle recognition and customization experiences, and Soft Landers' global relocation BNPL (Buy Now Pay Later) platform, which allows users to access essential services like moving, visa processing, and insurance without upfront payments.
In the one-on-one consultation sessions, pre-matched startups and investors engaged in 30-minute discussions. Each startup received up to two opportunities to facilitate practical investment dialogues.
The investment exchange was lauded for strengthening connections between startups and investors in Pangyo Techno Valley and promoting the value of open innovation. Gyeonggi-do plans to continue supporting regional startups' global growth through various collaborative and support programs.
Pangyo Techno Valley is a global integrated R&D hub focused on IT, BT, CT, and NT, integrating Research (R), People (P), Information (I), and Trade (T). As Gyeonggi-do's representative innovation cluster, Pangyo Techno Valley was established to secure national new growth drivers such as technological innovation, human resource development, job creation, and enhancing international business competitiveness. As of 2023, 1,666 companies employ 78,751 people, and it has positioned itself as the most innovative hub in South Korea, with sales amounting to 167.7 trillion KRW (125.5 billion USD).
Furthermore, the Techno Valley Innovation Division of the Gyeonggi-do Business & Science Accelerator (GBSA) holds monthly events such as the Pangyo Evening Meet-Up, Pan-Pan Day, and the Pangyo Startup Investment Exchange "In-Best Pangyo" to maximize the value of Pangyo Techno Valley. They also support the Pangyo Overseas Promotion Program to publicize information about Pangyo's companies, products, and services to domestic and foreign investors and the media, thereby facilitating foreign investment.
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