IBK Launches Startup Hub in Daegu to Support Entrepreneurs

Recently, at the Samsung Creative Campus in Daegu, the IBK Changgong Daegu building came into view as I entered the complex. The first thing that caught my eye was the wall, which was filled with the names of companies that have passed through IBK Changgong Daegu since last year. In an office next to the entrance, staff members were busily managing the center. This location is considered the frontline of IBK's productive finance initiatives.

Inside the center, spaces necessary for startup operations were fully utilized. Independent workspaces for resident companies were already occupied. One company, which started with a single room shared by three people, has now expanded to over three rooms. Additionally, there are open workspaces for early-stage startups with one to two employees, a small auditorium for investor presentations, meeting rooms, and a lounge. This setup allows startups to conduct business discussions and prepare for investment all in one place.

Lee Dong-ryul, the head of IBK Changgong Daegu, stated, "All first and second cohort companies have completed their residency, and we plan to select an additional 10 companies in the second half of the year. Interest in the Changgong center is growing in line with the recent expansion of productive finance."

IBK Changgong serves as a platform for nurturing startups and ventures under IBK. It is not merely a space for renting offices; it provides comprehensive support for the growth of startups, including investment, loans, education, mentoring, consulting, market access, and marketing. As of the end of February, IBK Changgong has discovered and nurtured a total of 1,264 innovative startups, with financial support amounting to approximately 3 trillion won.

Notably, IBK Changgong Daegu is the fourth regional hub following Busan, Daejeon, and Gwangju, focusing on discovering companies in advanced technology sectors such as artificial intelligence and robotics, which are prioritized by the city of Daegu. The aim is to connect local industrial foundations with startup financial support.

Lee emphasized, "The Daegu and Gyeongbuk regions have a strong foundation in traditional manufacturing, and with universities and research institutions nearby, there is a solid base for technical talent and industry-academia collaboration. With the opening of IBK Changgong Daegu, we can leverage IBK's accumulated expertise in small and medium-sized enterprise finance to foster local startups."

He added, "Many companies face challenges in securing funding, developing markets, and building networks, even if they have good technology. We will spare no effort in providing tailored support to help local startups soar beyond Korea to the global stage."