The investment attraction platform ‘Biig WAVE’ operated by Incheon Metropolitan City and Incheon Creative Economy Innovation Center (Director Lee Han-seob) held its second Investment Roadshow (IR) event at COEX on the 10th, following last month’s event in Incheon.
This IR event was attended by around 300 people, including the 10 startups selected as Biig WAVE beneficiaries, as well as venture capitalists, accelerators, investment institutions, representatives from large corporations, and support organizations.
Biig WAVE is an investment attraction platform based on the Incheon Biig WAVE Fund, the first of its kind created by Incheon City and Incheon Center among local governments nationwide. Since 2021, it has been discovering and supporting investments for promising startups both within and outside the city, totaling around 10 each for the first and second halves of each year.
During this IR event, 5 deep tech startups presented their business plans for investment attraction, including companies such as “VtoV” aiming for logistics innovation within major cities, “SIJE” pursuing a digital transformation of the entire clothing production process, “aeonus” in the next-generation energy mobility sector, “AETECH” producing robots for recycling product handling, and “Perseus” providing essential hypervisor solutions for the future mobility industry, including autonomous vehicles.
At the previous event held in Songdo, Incheon last month, 5 bio startups, including “VS Pharm Tech” developing anticancer drugs through new drug discovery methods, “Astrogen” developing treatments for refractory neurological disorders such as autism spectrum disorder, “INEXOPLAT” utilizing exosomes, cell-to-cell signaling molecules, to develop anticancer drugs, “Baobab AiBIO” a structural-based drug development (SBDD) platform company, and “ABLE Labs” manufacturing liquid handling robots for bio experiments, took the stage for IR.
Entering its third year, Biig WAVE has successfully attracted investments totaling over 80 billion KRW (around 67 million USD) for 39 promising startups in 2021 and 2022 combined. In this year’s first half alone, over 200 startups applied, resulting in a competition ratio of 1 in 20.
Incheon Center plans to continue supporting the selected companies even after the IR event by facilitating subsequent meetings with investment companies to ensure their success in attracting investments.
Source: Herald Economy, Reporter Son In-kyu (http://news.heraldcorp.com/view.php?ud=20230810000529)