KB Financial Backs Startups Fundraising In Singapore

KB Financial Group operated a global demo day program in Singapore for two days from on Aug. 26 to 27, jointly with the K-Startup Center Singapore of the Korea SMEs and Startups Agency, to support Korean startups in expanding their local business operations and attracting investment.

A total of 12 startups fostered by the two organizations took part in the program, including seven companies selected by KB Financial in May as part of “KB Starters.” The participants directly visited major local institutions, including TechX Ventures, a subsidiary of Singapore’s Home Team Science and Technology Agency, the startup industry association ACE.SG, The GEAR, the open innovation center of Japan’s Kajima Corp., and Temasek Polytechnic.

The participating companies reviewed market conditions while holding detailed discussions with officials from each institution on the feasibility of local commercialization. In particular, customized one-on-one meetings with Southeast Asian and global venture capital firms were arranged, helping the startups seek tangible opportunities to secure investment.

On Aug. 27, “Global IR Day” was held at the Singapore HUB operated by KB Financial. The startups conducted investor relations activities for potential investors and business partners and, through networking with local related organizations, secured a foothold for advancing into Asian markets including Singapore.

Cho Sung-ik, chief executive of TelePIX, who took part in the event, expressed satisfaction at having introduced the company’s business to verified local investment institutions and showed his determination to strengthen its position in Asia’s aerospace industry.

Yu Hyun-soo, chief executive of PiaSpace, also cited contact with major local partners that are difficult to meet as a key achievement and said he expects it to serve as a stepping stone for future business expansion.

A KB Financial official said the group would do its utmost to serve as a growth partner helping promising Korean startups demonstrate their business capabilities on the global stage.