Korea Development Bank (KDB) jointly held KDB TechConnect Day with the Korea Invention Promotion Association from Nov. 22 to 23.
KDB TechConnect Day was held to pursue strategic investment-based cooperation with venture startups and mid-sized companies in the materials, parts and equipment, biotech and health industries.
KDB TechConnect Day is a strategic partnership support platform between venture companies and mid-sized to large companies that has been held regularly since 2015.
It aims to support the commercialization of technology by technology-powered venture startups and open innovation at mid-sized and large companies.
The event arranged a one-on-one business meet-up between venture startups and mid-sized companies to discuss ways to cooperate, helping to create synergies by combining technologies and ideas of venture startups with funds and networks of mid-sized companies.
KDB TechConnect Day marked its 5th anniversary this year.
Twenty-four venture startups and 11 mid-sized companies jointly discovered by KDB and the Korea Invention Promotion Association took part in one-on-one business meet-ups related to strategic investment and M&A. A total of 33 meet-ups were held.
In the meantime, KDB TechConnect Day yielded various outcomes such as Proof of Concept (PoC), technology alliances, and sales contract between venture startups and medium-sized companies.
Seventeen venture startups succeeded in attracting strategic investment of 43 billion won from mid-sized companies. Four companies cut M&A deals with mid-sized companies.
That is to say, various kinds of cooperation between venture startups and mid-sized companies are being carried out through TechConnect Day.
In particular, on KDB TechConnect Day, business meet-ups were held for excellent venture startups suitable for the technology needs of mid-sized companies in cooperation with the Korea Invention Promotion Association.
They expect that the meet-ups will produce many practical results such as strategic investment and business cooperation.
“KDB TechConnect Day is one of KDB’s venture support platforms (KDB NextRound (an investment attraction platform), NextRise (a startup fair), NextONE (a startup fostering program), etc.) between venture startups and mid-sized and large companies,” a KDB official said.
Meanwhile, KDB announced on Nov. 29 that it carried out organizational reorganization for 2023 to respond to crisis management, establish a support system for core industries, make a change in its organization for efficient management, and lead balanced regional development in a board meeting.
In order to build a preemptive response to the recent global financial environment and macroeconomic fluctuations, KDB became able to integrate finance-related tasks and establish and implement consistent financial policies by newly setting up the Financial Management Department with a view to improving efficiency between financial planning and financing.
KDB introduced a matrix management system to establish and execute a consistent sales strategy, linking industrial policies and sales organizations by industry by adding the roles of a control tower for overall sales policies to the Sales Planning Department.
KDB has secured the efficiency of overall organization management by strengthening connections between management policies and organization and personnel management by launching the Planning and Management Division that integrates the policy planning unit and the business management unit.
Moreover, the Small and Medium-Sized Division in charge of domestic branch sales was changed to the Regional Growth Division and the Network Support Office in order to foster the southeastern region of Korea as the two pillars of national growth and support the realization of the national agenda of balanced national development.
The Regional Growth Support Office was integrated into the Regional Growth Support Office to unify similar tasks and relocated to the Busan area to strengthen support for regional growth.
In particular, KDB newly established the Southeast Investment and Finance Center to zoom in on green finance, venture investment and regional development in the southeastern region, and develop it into a policy finance hub for balanced regional development through a transfer of accumulated IB work.
In addition, to strengthen financial support for shipbuilding and shipping companies and support next-generation ship finance business, the Maritime Industry Finance Office under the Maritime Industry Finance Headquarters has been expanded and divided into the Marine Industry Finance Office 1 and the Marine Industry Finance Office 2.
