Jobis&Villains Corp. said on the 16th that it signed a memorandum of understanding (MOU) with Seoul National University Technology Holdings to discover and nurture early-stage startups based on artificial intelligence (AI).
The two sides signed an "MOU to build an AI-based, daily-life financial and life service ecosystem" at Jobis&Villains Corp.'s headquarters in Gangnam District, Seoul, on the 15th. The signing was attended by Chief Executive Kim Beom-seop of Jobis&Villains Corp., Chief Executive Mok Seung-hwan of Seoul National University Technology Holdings, and other officials.
Through this agreement, the two sides decided to establish a joint investment system that covers the entire process from discovering promising startups to investment and commercialization links. To that end, they will create a growth fund for investments in early startups and expand support mainly for corporations in daily-life service fields based on AI technology that align with their direction. They also plan to gradually expand the investment scale by bringing in external partners such as financial institutions.
Both sides expect the cooperation to help early-stage startups, which lack funding and commercialization experience, gain a foothold in the market. They believe that combining Jobis&Villains Corp.'s business experience accumulated while operating the Samjeomsam service with the investment and corporate nurturing know-how of Seoul National University Technology Holdings will enable practical growth support.
Jobis&Villains Corp. expanded its business scope into a platform covering everyday life last year by acquiring an insurtech corporation based on microinsurance and a consumer electronics commerce corporation. Building on this agreement, it also plans to expand in earnest its role as an accelerator responsible for investing in and nurturing early-stage startups.
Seoul National University Technology Holdings, established in 2008, is a technology-based startup investment institution that currently manages a fund of about 120 billion won. Based on Seoul National University's technological capabilities and research infrastructure, it has invested in corporations at early and growth stages and holds a broad portfolio, including artificial intelligence semiconductor corporations and fintech corporations.
Kim Beom-seop, chief executive of Jobis&Villains Corp., said, "We want to share the experience accumulated through operating Samjeomsam with early-stage startups," and added, "We will serve as a helper with Seoul National University Technology Holdings, which has extensive investment experience, so AI-based startups can gain a foothold in the market."
Mok Seung-hwan, chief executive of Seoul National University Technology Holdings, said, "Collaboration between strategic investment and business infrastructure is important for tangible growth in fintech and life service fields," and added, "Through cooperation with Jobis&Villains Corp., we plan to provide concrete support for the business growth of invested corporations."