2024-11-04

Jeollabuk-do held the ‘2024 Jeollabuk-do Star, Venture Investment Night’ on the 4th at the The-Mae Hotel in Jeonju, bringing together investment firms from the capital region and local investors to introduce promising startups and discuss the activation of the venture ecosystem.

The event was attended by 23 representatives from Jeollabuk-do's venture fund management companies, who engaged in enthusiastic networking with local startups, adding to the excitement of the event.

This year’s event saw significant participation from investors in the capital region, a result of the expansion of Jeollabuk-do’s venture fund from 6 companies to 31 under the 8th local government administration.

The province has solidified the foundation for the growth of the local venture ecosystem with a fund of 1 trillion KRW, and the management scale, which was 2.104 billion KRW, is expected to reach 8.998 billion KRW by the end of this year.

This is the largest venture investment initiative in the country, excluding Seoul and Gyeonggi Province.

A key event was the launch ceremony of the ‘Jeollabuk-do Venture Fund Consortium,’ where the province announced plans to strengthen the venture ecosystem by collaborating with 25 venture fund management companies. The collaboration will focus on three main areas: building the early-stage startup ecosystem, enhancing the value of local businesses, and attracting promising companies from outside the province.

On the same day, Governor Kim Gwan-young awarded plaques of appreciation to 12 investment firms that have contributed to local venture investments.

Notably, SJ Investment Partners was recognized for recording the highest return on investment within the Jeollabuk-do Venture Fund and for attracting the promising company, EnerEver Battery Solutions, to Wanju. SJ Investment Partners was named the ‘Best Jeollabuk-do Local Investment Firm’ and received a plaque of appreciation.

Additionally, plaques were awarded to four Jeollabuk-do TIPS operation companies and seven investors who played a leading role in the early formation and investment discovery in four key emerging industries: cultural content, climate tech, bio-health, and defense industry. A total of 12 investment firms received the plaques.

Additionally, during the event, four promising startups from Jeollabuk-do and two startups scheduled to relocate to the province held presentations (IR) to introduce their businesses.

The startups presented innovative technologies and business models in areas such as electric vehicle waste battery disassembly, bio-health, and climate tech, seeking practical investment opportunities.

This event was designed as a platform where startups recommended by metropolitan investment firms were introduced to other investors, with the province planning to actively support the transition from these IRs to actual investments.

After the official event, Governor Kim Gwan-young held a meeting with 23 representatives from venture fund management companies, listening to their suggestions and concerns.

Moreover, the six leading investment firms in the Jeollabuk-do Venture Fund Consortium shared the province's investment strategies and successful cases, suggesting the future direction for the development of the local venture investment ecosystem.

The event concluded with a dinner, where the ‘Jeollabuk-do Venture Investors' Night’ was held. Deputy Governor Kim Jong-hoon and major investors participated in discussions regarding the future development of the Jeollabuk-do venture ecosystem.

SBI Investment, which participated in the event, stated, "It was a great opportunity to understand Jeollabuk-do's differentiated venture fund management strategy," and added, "We will continue to contribute to the development of the Jeollabuk-do venture ecosystem."

Governor Kim Gwan-young expressed gratitude towards the representatives and employees of the investment firms for their active participation in the consortium and their commitment to Jeollabuk-do's investments. He emphasized, "Let us all put in our best efforts to drive the regional economy and achieve tangible results to prevent the extinction of rural areas."

Source: Jeollabuk-do, ‘2024 Jeollabuk-do Star, Venture Investment Night’ Held - The Fact.