Three companies Busan yesterday. Hello Korea – a menu analysis service aimed at foreign tourists, Zim Carry – a personal luggage transportation service and Return Box – city delivery and logistics startup, partnered up in a joint 200 million won seed investment agreement in Busan.
The three companies were discovered and supported through the Busan Start-up Acceleration Program. The program is a large-scale accelerator operated by the Busan Metropolitan Government, together with universities in the region, Busan Bank, and Coles Dynamics.
Return Box and Zim Carry won first and third places respectively at the program’s demoday, which was carried out as a mock crowd funding event that 100 people took part in. The aim of the funding is not only seed investment, but to help companies achieve milestones by supporting them with initial marketing, investor relations, and utilizing overseas networks such as Alibaba.com.
“Through this investment of 200 million won, we will concentrate on achieving growth milestones for each company and developing business models based on the nature of services. We will also help to expand business by connecting with investors for the next round,” said Collz Dynamics’ CEO Alex Kang.
Busan Mayor, Suh Byung-soo, who attended the signing of the agreement said, “Active investment in startups is taking place in Busan, and we’ll be making efforts to raise funds in order support startups in 2017 too. We look forward to Busan growing to becomoe Asia’s top city for entreprenurs.”
