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: 5 : Admin : Mon, 11 August 2014, 12:00 AM |
| Angel investment invigorated for supporting geospatial information entrepreneurs |
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Angel investment invigorated for supporting geospatial information entrepreneurs MOLIT carries out mentoring and training programs aimed at promoting angel investment in geospatial information
□ The Ministry of Land, Infrastructure and Transport of the Republic of Korea (Minister: H.E. Mr. Suh Seoung-hwan) announced that it will hold its first training and mentoring session for promoting angel investment in geospatial information at Coex on Monday, August 25, 2014, in order to help entrepreneurs secure initial capital for their venture corporations that utilize geospatial information.
* (Angel investment) Although armed with ideas and technology, some entrepreneurs lack capital. Angel investment therefore provides investment and business consulting at the beginning stage of a venture and after it becomes a well-established company, reaps the profits from its investment.
□ Organized by the Space N (Geospatial Information Industry Promotion Institution), this event was put together in order to support geospatial information venture corporations that suffer from the lack of fundings owing to such reasons as the lack of networks or business strategies at their initial business stage, in spite of the fact that geospatial information is now being viewed as a source of business opportunities through integration and provision of location finding services converged with other related information services.
ㅇ Anyone who is interested in starting up a company drawing upon geospatial information will be eligible to submit applications for participation through the website of the Space N at www.spacen.or.kr.
ㅇ However, if too many applications are received, the participations may be selected based on a first-come-first-served basis and assessment on their project planning documents.
□ The 1st training and mentoring session for promoting angel investment in geospatial information will include the followings:
ㅇ Korean representative of the AAI (Access America Investments & Fund), Mr. Kim Chang Seok, will provide a training program for a class of about 50 people who are either interested in geospatial information thinking about starting up a company or prospective entrepreneurs on introduction of angel investment, securing investment strategies, and know-how on investment contracts.
ㅇ Following the first program, Mr. Go Young Ha of the Korea Angel Investment Association will carry out consulting sessions with previously selected seven teams based on their project planning documents out of a pool of entrepreneurs and prospective start-up business people, by engaging in one-on-one mentoring through which business development directions and tailor-made investment promotion strategies will be shared.
ㅇ Also, this event will provide introduction on the government's policies for supporting entrepreneurs in the field of geospatial information and lectures on the government's supporting policies utilizing the V world (a geospatial open platform).
* (V world) A geospatial information system supporting the use of a wide array of geospatial information and providing information related to it so as for the private sector to conveniently make use of national geospatial information issued by the government
□ An official related to MOLIT stated, "Through this event, we are expecting that excellent capacity building for venture corporations in terms of securing investment will take place," adding, "In order for them to be able to secure enough investment at the early stages of their businesses, the government will review various ways to provide such needed support to them."
□ Meanwhile, this event will take place in conjunction with the 2014 Smart Geospatial Expo (August 25-27, 2014, Coex) that is organized by MOILIT. In the exhibition halls of the Expo, quality geospatial companies' start up projects will be on display for promotion and a number of government and its affiliated institutions will set up their booths to provide information on the government's support measures for startups and detailed methods for doing so, along with necessary information for submitting applications for such measures. |
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