Accelerator CNTTech said it signed a memorandum of understanding (MOU) with the Korea Fisheries Association on the 14th to identify and foster innovative corporations in the maritime and fisheries sector and to revitalize the industry ecosystem.
The agreement was prepared to combine CNTTech's startup support and investment capabilities with the Korea Fisheries Association's industry capabilities to expand exchanges between maritime and fisheries startups and related corporations.
Under the agreement, the parties will identify promising startups in the maritime and fisheries field and support their growth. They will promote exchanges between association member companies and startups as well as technological cooperation. They will also join forces for participation in the Busan International Seafood & Fisheries Expo (BISFE) and for running linked programs. They plan to jointly pursue various events and promotional activities, including seminars, forums, and expert consultations, and to share information needed for the development of the venture ecosystem.
CNTTech is an accelerator that discovers and invests in early-stage corporations. Since 2021, it has operated the "Unicorn Bay" maritime and fisheries accelerator program of the Korea Institute of Marine Science & Technology Promotion (KIMST), supporting commercialization and investment attraction for related startups.
CNTTech plans to use the Korea Fisheries Association's industry and export network through this agreement to strengthen follow-up growth support, including business expansion and overseas entry of portfolio corporations.
Jeon Hwasung, CEO of CNTTech, said, "We have established a cooperation foundation that can link CNTTech's accumulated experience in discovering and investing in maritime and fisheries startups with the Korea Fisheries Association's industry network," adding, "We will use the two institutions' expertise and networks to expand points of contact between maritime and fisheries startups and industry."