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THE INVESTOR
December 08, 2019
Big Reunion

Startups & Investors

NH Nonghyup boasts promising startups at first demo day

  • PUBLISHED :August 28, 2019 - 19:26
  • UPDATED :August 28, 2019 - 23:39
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South Korea’s Nonghyup Financial Group introduced 10 promising startups at its first demo day on Aug. 28, marking the conclusion of the first batch of its accelerator program.

Nonghyup launched a six-month accelerator program with 33 companies six months ago in partnership with social impact investment-focused Creviss Partners, the operator of the accelerator program.

The demo day featured startups with advanced technologies such as artificial intelligence and big data, including property-technology firm Spacewalk and financial technology-based SagoLink. Startups that streamline agriculture commerce, A-Impact and X_X, also took the stage.
 

Participants of NH Digital Challenge Plus pose with officials from Nonghyup Financial Group and Creviss Partners during a demo day on Aug. 28.
(Nonghyup Financial Group)



“We’ll continue to support startups ranging from finance to agriculture and education and cooperate with them to create an innovative digital ecosystem,” Kim Gwang-soo, chairman of CEO of Nonghyup Financial Group, said at the event.

To create synergy with startups, NH Nonghyup Bank has decided to provide AI-based land analysis services provided by SpaceWalk’s Landbook to its VIP customers, the two companies said Aug. 27.

Originally having deep links to farmers and agribusinesses, the financial group now aims to reinvent itself as a digital leader in finance. In April, it launched the NH Digital Innovation Campus to strengthen the group’s digital research and development and open innovation. It has also set up a 20 billion-won ($16.47 million) fund devoted to supporting startups. Part of the funds will be invested in startups featured at the demo day, an official said.

NH Nonghyup is currently accepting applications for the second batch for the accelerator program until Aug. 31. Selected startups will be provided with various benefits including free office space and mentoring sessions. They can also secure an opportunity to cooperate with NH and receive funding.

By Park Ga-young (gypark@heraldcorp.com)

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