my timesThe Korea Times
  1. Business
  2. Banking & Finance

IBK invites startups to win mentoring, funding opportunities in US

Listen
By Yi Whan-woo
  • Published KST
  • Updated KST
Participants of Industrial Bank of Korea's 'IBK Changgong Silicon Valley Accelerating Program' pose for a photo at the Silicon Valley office of 500 Global, a U.S. venture capital firm that invests in founders building fast-growing technology companies, in November 2023. Courtesy of IBK

Participants of Industrial Bank of Korea's "IBK Changgong Silicon Valley Accelerating Program" pose for a photo at the Silicon Valley office of 500 Global, a U.S. venture capital firm that invests in founders building fast-growing technology companies, in November 2023. Courtesy of IBK

Program to offer two-week training program to selected startups

Industrial Bank of Korea (IBK) is inviting startups in Korea to join a program that offers mentoring and funding opportunities in the United States, the state-run lender said Tuesday.

The program, titled "IBK Changgong Silicon Valley Accelerating Program," is the second of its kind following the success of the first one in 2023.

500 Global, a U.S.-venture capital firm that invests in founders building fast-growing technology companies, is co-organizing the program.

Applications are due July 31 and can be submitted online at: ibkchanggong.com.

The selected startups will join a two-week management and other business skills training program in Silicon Valley, California.

Other benefits include networking opportunities with U.S. investors, mentoring programs and investments made via a fund 500 Global manages.

"We're pleased to nurture prospective startups and help them unleash their potential abroad," an IBK spokesperson said.