The Korean Venture Capital Association said on the 22nd that it had signed a memorandum of understanding with the Korea Student Aid Foundation to support young entrepreneurs and help them attract investment.
The agreement aims to strengthen the fundraising capabilities of young founders and startups housed in the foundation's startup dormitory and to support their long-term growth. The two organizations will cooperate on identifying and nurturing young entrepreneurs, providing training to help promising youth-led startups raise capital, sharing information and data on venture investment trends and youth entrepreneurship, and making use of each organization's human and material resources.
"The challenges taken on by young entrepreneurs are a new growth engine for our economy and an important driving force that opens up the future," said Lee Joon-hee, standing vice chairman of the VC association. "We will actively cooperate so that this agreement becomes an opportunity to add vitality to Korea's venture investment ecosystem."
Park Dan-ho, head of the foundation's youth support division, said: "Through this agreement, we will work with the VC association to actively identify cooperative projects that provide practical help to young entrepreneurs, including training on raising capital from managers of pension fund money and customized mentoring."