Five-university consortium
Jeonnam Regional University Alliance Startup Technology Holding Company — known as Jeonnam Startup Technology Holding — said Wednesday it obtained a venture capital license from the Ministry of SMEs and Startups, adding to its existing accelerator license and establishing a dual-license framework.
Five universities — Dongshin University, Mokpo National University, Mokpo National Maritime University, Suncheon National University and Jeonnam Science College — along with the Jeonnam-Gwangju Integrated Special City, founded the company through investment channeled via Jeonnam Technopark. It is the first venture capital firm in the Jeonnam-Gwangju region to receive local government investment.
With the new VC registration, the company can now form venture investment partnerships and manage large-scale funds targeting mid- to late-stage growth companies, moving beyond its earlier focus on identifying and incubating early-stage startups.
Founded in 2018, the company has worked to discover and nurture promising startups by drawing on the technology and infrastructure of regional universities.
In step with the innovation environment created by the launch of the Jeonnam-Gwangju Integrated Special City, the company is now focused on mapping out a broad startup ecosystem — anchored by universities — that connects Gwangju's AI, semiconductor and future mobility industries with South Jeolla Province's strengths in energy, biotech, agri-food, and materials, parts and equipment.
"We will go beyond simply supplying capital and become a true partner to founders — running alongside startups that begin in the Jeonnam-Gwangju region so they can grow into global unicorns that transcend Korea," said Lee Chan-hee, chief executive of Jeonnam Startup Technology Holding.
parkds@heraldcorp.com
