As CNTTech, a leading domestic accelerator (AC), moves to list on KOSDAQ, the industry is watching to see whether the first listed AC in Korea will emerge.
According to the investment banking (IB) industry on the 16th, CNTTech filed for a preliminary listing review with the KOSDAQ Market Division of the Korea Exchange (KRX) on the 11th. The lead underwriters are Hanwha Investment & Securities and Hana Securities. CNTTech previously applied for a KOSDAQ preliminary listing review in 2023 but voluntarily withdrew the following year, making this its second attempt at listing.
Founded in 2003 by CEO Jeon Hwa-seong, CNTTech is regarded as one of the largest accelerators in Korea. It has invested capital in early-stage startups and provided growth support programs such as mentoring and network connections, establishing its position in the early investment ecosystem in Korea. To date, it has invested in more than 580 startups, with cumulative investment reaching 100 billion won. It has also incubated more than 15,000 corporations and produced more than 310 TIPS-selected companies, growing into a leading startup nurturing institution.
In particular, CNTTech has gone beyond being a simple investment institution to build a "venture studio" model that designs business models directly and discovers and nurtures corporations. Through this, it has established a virtuous cycle that connects incubation, investment, exit, and reinvestment, and is pursuing a differentiated growth strategy.
In the course of this listing push, it also supplemented the business structure issues pointed out during the first listing attempt. In the industry, there was an assessment that the high share of revenue from the Foodtech business in the past did not sufficiently highlight the performance and differentiation of the core accelerator business. Since then, CNTTech has strengthened its company-building capabilities based on the venture studio and reorganized its business structure, emphasizing that the Foodtech business is also an extension of the accelerator's own business domain.
Its performance growth is continuing. CNTTech posted revenue of 31.1 billion won and operating profit of 6.3 billion won last year. Compared with the previous year, revenue rose 33% and operating profit increased 18%, showing stable growth.
CNTTech plans to invest the funds secured through this listing in expanding its accelerator business and strengthening its venture studio–type company-building business. Its strategy is to further enhance its capabilities in discovering and nurturing promising startups by expanding its investment resources.
Meanwhile, the Korea Exchange (KRX) must notify the review results within 60 days from the date of the preliminary listing application. Accordingly, the results of CNTTech's preliminary listing review are expected to come out before mid-August. If it passes this review, CNTTech is expected to become the first accelerator in Korea to successfully list on KOSDAQ.