Korea Technology Finance Corporation (KOTEC) said on the 19th it is recruiting corporations to join the 18th KOTEC Venture Camp.
KOTEC Venture Camp is a startup support program run in collaboration with private accelerators (ACs) to identify and foster innovative startup corporations with cutting-edge technology and business ideas. To date, it has provided tailored growth support and follow-on investment links to a cumulative 890 startups.
Eligible applicants are innovative startup corporations within three years of founding as of the announcement date, or prospective founders. After a first-round document review and a second-round presentation review, about 70 corporations will be selected.
Korea Technology Finance Corporation (KOTEC) plans to discover a diverse range of corporations by operating special tracks in five areas in addition to the general track: ▲ regional balance ▲ ESG ▲ new growth 4.0 ▲ prospective startup ▲ global.
Selected corporations will receive, free of charge, programs including ▲ comprehensive consulting to establish startup-tailored growth strategies ▲ transfer of field-specific expert experience and success strategies ▲ links to ACs, venture capital (VC), and angel investment, as well as VC networking.
Corporations selected for the global track will be offered customized programs for entry into global markets, including building overseas expansion strategies. Corporations selected for the ESG track will also get a recommendation opportunity for the National Climate Crisis Response Committee's "Net Zero Challenge X Project."
Korea Technology Finance Corporation (KOTEC) will also connect graduates of the venture camp with follow-up financial and nonfinancial support, including technology guarantees and guarantee-linked investments, technology transfer, and technology and management consulting.
Recruitment of participating corporations runs through Feb. 4. Details on recruitment can be found on the Korea Technology Finance Corporation (KOTEC) website and in the business announcement on the Ministry of SMEs and Startups (MSS) startup portal K-Startup.
Director Lee Sang-chang of Korea Technology Finance Corporation (KOTEC) said, "KOTEC Venture Camp is KOTEC's core startup support program that, in collaboration with private ACs, supports the early growth of promising startup corporations," adding, "We will continue to expand various support so that startups with innovative technology can grow into unicorns."