Driving Growth for Start-Ups and Venture Enterprises
IBK has built an integrated innovative finance platform that comprehensively supports start-up incubation, venture capital investment, and Technology Finance. Through the reinforcement of IBK Changgong and its Innovative Finance programs, IBK continues to promote start-up scaling, global start-up network expansion, and financial innovation for the growth of future high-tech industries.
IBK Changgong is IBK’s flagship incubation platform designed to foster the continuous growth and innovation of start-ups. As of 2024, the platform operated five main centers nationwide (Mapo, Guro, Busan, Daejeon, and Gwangju) and two university-affiliated camps (Seoul National University and UNIST). By 2024, IBK had incubated a total of 925 innovative start-ups and provided KRW 2.1663 trillion in financial support.
To expand its entrepreneurial network, IBK launched a new center in Gwangju and partnered with KIST Europe in Germany. Moreover, the bank operates global accelerating programs in Silicon Valley and Europe, actively supporting global market entry for Korean start-ups.
IBK has expanded its financing based on technology and innovation. As of the end of 2024, IBK’s outstanding balance of Technology Finance loans stood at KRW 113.2 trillion, maintaining the No. 1 market share. The bank also increased lending to companies in possession of one of the 12 National Strategic Technologies to KRW 20.4 trillion. For companies with limited tangible assets but strong intellectual property (IP) portfolios, IBK offered IP Loans totaling KRW 101.6 billion to 187 companies in 2024.
To help start-ups overcome the Valley of Death, IBK became the first in Korea to introduce a Venture Loan program, which disbursed KRW 182.5 billion to 162 companies by 2024. The program aims to expand total disbursement to KRW 300 billion by 2025. In parallel, IBK has committed to supplying KRW 2.5 trillion in venture capital from 2023 to 2025 and made a record-high investment of KRW 986.5 billion in 2024 to invigorate the venture investment market.
IBK Changgong Demo Day (November 8, 2024)
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Desk InterviewIBK Changgong
Silicon Valley Desk- Yoo, Sang Hyun,
- Deputy General Manager, Industrial Bank of Korea
IBK Changgong Silicon Valley Desk is a local hub established in partnership with 500 Global, a global venture capital firm, to support the global expansion of Korean innovative start-ups.
The Desk operates the Silicon Valley Accelerating Program, where selected early-stage start-ups receive pre-investment, and then two months of intensive local acceleration supports, including local partner discovery, investor networking, and market validation.
The Desk actively engages with investors and global companies within the local start-up ecosystem to build a strong network. This initiative will strengthen local infrastructure and expand IBK’s role in supporting more Korean start-ups in their global expansion journey. -
Start-up InterviewPromenade AI
- Sylvia Woo,
- Chief Executive Officer
The IBK Changgong Silicon Valley Accelerating Program allowed Promenade AI to take its first steps into the global market and validate its growth potential through local engagement.
Thanks to the support of the program and 500 Global, Promenade AI successfully launched the beta service of its developed AI engine specialized in corporate research in the second half of 2024. Through the program, the company refined its Ideal Customer Profile (ICP) to target financial professionals involved in M&A or investment activities. This allowed the company to quickly improve its products to align with market demands and technology trends in the region. As a result, the company differentiated its solutions from existing ones by offering a specialized service that rapidly analyzes and processes financial and alternative data based on financial LLM to provide meeting-ready materials for financial experts, eliminating additional desk work.
With this support, Promenade AI is discussing collaborations and sales opportunities with local PE firms, VCs, and M&A Advisory houses following the conclusion of the beta service in 2025.
Launch of IBK Venture Investment (April 4, 2024)
Launch of IBK Changgong Europe Desk (October 10, 2024)