Sampyo Group said on the 23rd that it took part in the awards ceremony for the Social Venture Innovation Management Competition at the 9th Social Venture Expo (EXPO), held on the 17th at Under Stand Avenue in Seongsu-dong, and provided a total of 10 million won to two social venture corporations.
A social venture corporation is a corporation that creates social value and economic value at the same time. It must be recognized by the Ministry of SMEs and Startups for social performance and innovative growth potential.
Seoul's Seongdong District has, since 2017, discovered promising corporations through the annual Social Venture Expo (EXPO) and has been helping them grow by supporting business development costs and connecting them with investment.
Sampyo Group supports creative and innovative social venture corporations at the Social Venture Innovation Competition, the largest social venture festival in the country.
This year, through the Sampyo Co-Prosperity Innovation Award, 5 million won each in business development costs was delivered to Heartspace (start institutional sector), which operates an integrated support platform for foreign K-living, and to Circularus Leader (scale-up institutional sector), which provides an artificial intelligence (AI)-based customized learning management solution for vulnerable groups.
Yu Yong-jae, executive director of Sampyo Group's Social Contribution Division, said, "We take pride in being able to join the process in which Sampyo Group and local social venture corporations create the future," adding, "We will continue to spare no support for corporations that create social value with innovative ideas."