• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • KTO
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • register
  • login
KoreaTechDesk
No Result
View All Result
KoreaTechDesk
No Result
View All Result
Home Investments

14 Companies, including StyleShare, Riiid, My Real Trip, and SmartStudy, selected as Preliminary Unicorn Startups

James Jung by James Jung
June 15, 2022
in Investments
5
Ministry of SMEs and startups

Ministry of SMEs and startups

0
SHARES
624
VIEWS
Share on FacebookShare on Twitter

On December 11, the Ministry of SMEs and Startups (MSS) and Korea Technology Finance Corporation (KOTEC) selected 14 companies as preliminary unicorn companies to carry out the guarantee of 77.5 billion won or about $66.5 million in funds for the second half of this year.

The 14 selected companies include Rainist, Riiid, My Real Trip, Barogo, SmartStudy, StyleShare, Agencomm, NGeneBio, OTD Corporation, Wanted, Wedding Book, ETS, J2H Biotech, and P&H Tech.

The special guarantee is based on the popular opinion that “the preliminary unicorn companies, despite their verified business models and remarkable growth, often face challenges in procuring funds due to rapid expansion and rise in debt.” The program was first launched in April of this year to give financial scale-up support (up to 10 billion won) to companies in securing their growth momentum.

Similar to the first half of the year, a common aspect of all these selected companies is that they outperformed most other companies in terms of sales growth, job creation, and investment scale.

Furthermore, most of these companies, who have invested a significant amount for future growth, are facing a challenge in procuring funds from commercial banks due to high operating losses.

In detail, these companies can be categorized into majorly information technology (seven IT companies) and manufacturing industries (three bio-related companies, and three material and component equipment companies). By industry, these companies can be subdivided into platform service providers (six companies) – which are the majority, content providers (two companies), and a FinTech company (one company).

An official from KOTEC stated, “After conducting the second round, we discovered that the market for the preliminary unicorn special guarantee business very popular, shown by an increase in competition.” He added that “the government will convert this support program into an official support program to help startups grow into unicorns. ”

Meanwhile, the 13 preliminary unicorns selected in the first half of this year are NeoLab Convergence, Dalcom Soft, DS Global, Ridi Corporation, MyMusicTaste, Mesh Korea, Blank Corporation, Wadiz, WATCHA, Kurly, PPB Studios, Hana Technology, and Healcerion. Ten of these companies are in the red, but the average investment raised is 29.3 billion won or about $25.1 million which is 12 times the market average. Their sales growth increased 6.3 times over the past three years.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: AgencommBarogoBlank CorporationDalcom SoftDS GlobalETSHana TechnologyHealcerionJ2H BiotechKorea Technology Finance CorporationKorean StartupKurlyMesh KoreaMinistry of SMEs and StartupsMy Real TripMyMusicTasteNeoLab ConvergenceNGeneBioOTD CorporationP&H Tech.PPB StudiosRainistRidi CorporationRiiidSmartStudyStyleShareUnicorn CompaniesWadizWantedWATCHAWedding Book
Previous Post

Could it be the end of the ride-sharing service ‘Tada’ as the Korean Assembly Committee seeks a revised bill?

Next Post

Riiid, the only Korean startup at the AI Summit New York 2019; presents its vision for AI-powered education

Next Post
Riiid, the only Korean startup at the AI Summit New York 2019; presents its vision for AI-powered education

Riiid, the only Korean startup at the AI Summit New York 2019; presents its vision for AI-powered education

0 0 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
5 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback
mail order cocaine online
2 months ago

… [Trackback]

[…] Here you will find 89350 more Info to that Topic: koreatechdesk.com/14-companies-including-styleshare-my-real-trip-and-smartstudy-selected-as-preliminary-unicorn-startups/ […]

0
trackback
홀덤
1 month ago

… [Trackback]

[…] Find More on that Topic: koreatechdesk.com/14-companies-including-styleshare-my-real-trip-and-smartstudy-selected-as-preliminary-unicorn-startups/ […]

0
trackback
you can try here
1 month ago

… [Trackback]

[…] There you will find 61206 additional Information to that Topic: koreatechdesk.com/14-companies-including-styleshare-my-real-trip-and-smartstudy-selected-as-preliminary-unicorn-startups/ […]

0
trackback
official site
1 month ago

… [Trackback]

[…] Here you will find 6388 additional Information to that Topic: koreatechdesk.com/14-companies-including-styleshare-my-real-trip-and-smartstudy-selected-as-preliminary-unicorn-startups/ […]

0
trackback
Buy Psilocybin Mushroom Chocolate Bar Sydney
21 days ago

… [Trackback]

[…] Here you can find 36496 additional Info to that Topic: koreatechdesk.com/14-companies-including-styleshare-my-real-trip-and-smartstudy-selected-as-preliminary-unicorn-startups/ […]

0
No Result
View All Result

Follow Us

FREE NEWSLETTER

Ecosystem Partners




PRODUCTS

Most Popular

  • 10 K-Dramas to watch for some ‘money matters’

    0 shares
    Share 0 Tweet 0
  • Top Korean Dating apps that can help you make new connections in South Korea

    1 shares
    Share 0 Tweet 0
  • UNDP-Citi Foundation’s impact startup acceleration programme ‘Citypreneurs 2023’ to promote innovative solutions for urban sustainability

    0 shares
    Share 0 Tweet 0
  • Three Restaurant Apps to try out for a fine dining experience in South Korea  

    9 shares
    Share 9 Tweet 0
  • Fabless semiconductor startup Fadu raises pre-IPO funding, becomes this year’s first Korean unicorn

    0 shares
    Share 0 Tweet 0
  • Quantit secures  30 billion won Series A investment from Smilegate Holdings for AI-based FinTech Asset Management Services

    0 shares
    Share 0 Tweet 0
  • Korean startup launching a nose-print identification for dogs, an alternate to the microchip embedding process

    0 shares
    Share 0 Tweet 0
  • Korean government pledges to nurture K-Space startups with 50 billion won ‘space fund’

    0 shares
    Share 0 Tweet 0
  • Afun Interactive receives investment for Virtual K-Pop Content Production

    0 shares
    Share 0 Tweet 0
  • Korean startups fall short on global readiness, finds Open Innovation Trend survey

    0 shares
    Share 0 Tweet 0
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KTO
    • KOTRA
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

wpDiscuz
5
0
Would love your thoughts, please comment.x
()
x
| Reply

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback

dgdfgfdgdf

What you think about Koreatechdesk, Share your idea with us!

feedback popup

Invitation submission has been closed

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.