GWANGJU < invest Korea

According to Yonhap News,

Korea Business Angels Association (KBAA) has kicked off providing a package of business support programs targeting companies based in Gwangju city. Gwangju city and KBAA signed an MOU on Apr 13 over partnership to funding and financing seed investment for early stage entrepreneurs.

Both agreed to launch startup programs devised to foster artificial intelligence technology developers and to run entrepreneurship camp and VC/ angel investing events etc.

Angel investment refers to a form of equity-financing by investors, who provide financial backing for small startups or early stage entrepreneurs technologically highly capable, typically in exchange for ownership equity of the company. These investors provide seed money to help the business get off the ground or to carry it through its difficult early stages (normally 1-3 years), looking for return on investment once these investees start to scale up.

In celebration of the MOU signing ceremony, the city mayor said “We’ll help these young entrepreneurs and early stage startups grow into the global unicorns so as to foster innovation.”

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Source:Yonhap News (Apr 13, 2021)