Ministry of SMEs and Startups “Establishment of the fourth angel investment hub in Gyeongbuk”

The Ministry of SMEs and Startups announced on the 25th that it will build an angel investment hub in the greater Gyeonggi area (Daegu and Gyeongbuk) in Gyeongbuk to promote angel investment in non-metropolitan areas.

Regional angel investment hubs have been established and operated in local metropolitan areas starting in 2021 to alleviate the concentration of angel investment in the metropolitan area by utilizing the infrastructure and capabilities of the private and public sectors and to create a regional initial investment ecosystem.

Starting with the Chungcheong region (Daejeon, Sejong, South Chungcheong, and North Chungcheong Province) and the Honam region (Gwangju, Jeonnam, Jeonbuk, and Jeju) in 2021, the Southeast region (Busan, Ulsan, and Gyeongnam) was established in 2023, and this time, the Daegyeong region (Daegu, South Korea) for the fourth time. Gyeongbuk) Angel Investment Hub was finally selected.

In this evaluation, Gyeongbuk received good evaluations in terms of the local government’s will to promote startup investment, the status of promotion of start-up investment, and feasibility.

The Ministry of SMEs and Startups plans to install the Greater Gyeonggi Area Angel Investment Hub at the Gyeongsan branch of the Gyeongbuk Creative Economy Innovation Center within Yeungnam University in Gyeongsan-si, Gyeongsangbuk-do by June and begin full-scale operation.

Lee Ji-ho, head of the Investment Management Supervision Department of the Ministry of SMEs and Startups, said, “The Greater Gyeonggi Area Angel Investment Hub to be created in Gyeongbuk is expected to become a focal point for regional angel investment, including discovering potential investors, building a network between startups and investors, and spreading the investment atmosphere for early-stage startup companies.” “We will expand support to revitalize local angel investment together with local governments,” he said.