Gyeonggi Creative Economy Innovation Center (hereinafter referred to as ‘Gyeonggi Innovation Center’) announced on the 25th that it signed investment contracts with three promising startups with Innox.
This contract is an investment contract recently signed with companies selected through the ‘2022 Open Bridge with INNOX’ program.
‘2022 Open Bridge with Innox’ is a program that selects promising domestic startups, executes investments, and promotes the growth of selected companies through ‘Value-up’. At the performance sharing meeting that follows after the program ends, an additional 200 million won in prize money will be provided depending on the accelerating results.
Three companies related to promising industries such as secondary batteries and metabus were finally selected for investment. From now on, Gyeonggi Innovation Center and Innox will actively cooperate and support the growth of innovative startups.
Meanwhile, Innox, a holding company, has been actively investing in artificial intelligence (AI)-based future industries and secondary battery fields since 2019, and participated in this program to secure new growth engines through investment, M&A, etc. Innox is actively participating in revitalizing the start-up and investment ecosystem, such as working as a consortium of TIPS program operators, participation in LP of fund-of-funds sub-funds, and member of the Korea Materials, Components and Equipment Investment Institutions Association.
Innox affiliates include Innox Advanced Materials and Alton Sports. In particular, Innox Advanced Materials achieved its highest performance ever last year through steady growth.
An official at the Gyeonggi Innovation Center said, “We are happy to select promising companies together with Innox, which is active in cooperation with startups,” and added, “We will actively support the growth of these companies.”
Meanwhile, since 2016, the Gyeonggi Innovation Center has jointly operated an open innovation program with partner companies KT, BMW Group Korea, Nonghyup Economic Holdings, Lotte World, Lotte Cultureworks, Daekyo, KB Kookmin Bank, and LG Display, focusing on PoC, strategic investment, and commercialization. A total of more than 200 commercialization connections have been carried out.
Source: Pangyo Techno Valley Official Newsroom
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