Seoul Startup Hub and POSCO hold’POSCO Idea Marketplace’, a platform to discover and foster startups

Seoul Startup Hub, the representative startup support organization of Seoul, announced in December last year that it signed an agreement with POSCO to discover and foster startups and recruit startups to participate in the’POSCO Idea Market Place (IMP)’ program.

The’POSCO Idea Market Place Program’ is POSCO’s technology-based start-up accelerating program to discover and value-up promising early start-ups.

The goal is to build a full-cycle virtuous cycle venture platform in which excellent start-ups grow and nurture another start-up. Since the start of the program in 2011, 114 excellent ventures and start-ups have been discovered, and a total of 21.4 billion won has been invested.

Seoul Startup Hub and POSCO provide comprehensive support for the entire project process, from the idea stage of ventures and start-ups to the establishment of business models, investments and follow-up management through linkage and cooperation with each institution’s’discovery-investment-cultivation’ program.

The’POSCO Idea Marketplace’ recruitment targets are preliminary founders in all industries-early founders less than 3 years incorporation, and applications for participation are from February 15 (Mon) to March 14 (Sun) 18:00 this year. You can fill out the application form at and submit a separate document by email.

The final selected companies are also given various support benefits such as commercialization of the Seoul Startup Hub, support for overseas expansion, and investment and mentoring of up to 500 million won from POSCO. Seoul Startup Hub’s △ Commercialization (POC) support, △ Global advancement support, △ Office space tenant grant, POSCO’s △ All-investment of the selection team (100 million to 500 million (seed money)), △ IMP Demoday’s best TIPS recommendation, Various benefits are provided, such as △POSCO Biz support, △ Customized mentoring through connection with POSCO venture fund and dedicated coordinator support, and △POSCO incubation center office space tenant qualification.

Soo-jin Choi, responsible for the Seoul Startup Hub, said, “We will strengthen support for the growth of startups by establishing networking with large companies so that innovative ideas and technologies of excellent startups can preoccupy the future market.”

FINTECHPOST

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.