DAEJEON — A new venue opened to accelerate the global expansion of companies based in South Korea's research and development special zones.
The INNOPOLIS Foundation said on the 1st that it held the INNOPOLIS Asia Investment IR Demoday on Sept. 30 at Front1 in Seoul to support INNOPOLIS companies entering Asian markets and to expand overseas investment and cooperation.
The event connected promising companies in the special zones that have the capacity for global expansion and fundraising with domestic and foreign investment firms and industry experts, allowing them to verify their proof-of-concept (PoC) capabilities on the ground and explore the potential for attracting investment.
About 30 institutions and companies took part, including 20 INNOPOLIS firms with strong technological competitiveness and high potential for follow-on investment, six investment firms from three Asian countries — Singapore, Hong Kong and Japan — along with PoC experts and domestic investment firms.
The first session was divided into a deep-tech track with 10 companies and a bio track with 10 companies so that investors could review each firm in depth. Companies made investor relations pitches, and the investment firms reviewed each one and provided feedback.
The second session featured one-on-one business meetups between the investors and experts and the INNOPOLIS companies, where the two sides discussed specific investment and cooperation plans based on each company's technology and business area and each investor's expertise and areas of interest.
Drawing on the investment and cooperation demand identified at the event, the foundation plans to continue supporting follow-up meetings between domestic and foreign investors and companies and to pursue PoC-linked programs.
"We will expand the points of contact between global investors and INNOPOLIS companies and strengthen a support system that links investment review, on-the-ground proof of concept, follow-on investment and global expansion," said Jung Hee-kwon, chairman of the INNOPOLIS Foundation.
