SEOUL, Aug. 12 (Korea Bizwire) — In order to support technology start-ups and entrepreneurs who plan to build start-ups related to the spatial information industry, the South Korea government plans to tie them with angel investors.
The Ministry of Land, Infrastructure and Transport will hold the first “Spatial Information Angel Investment Inducement, Education & Mentoring” event to help spatial information ventures and future start-ups secure funds in their early stages on August 25.
Sponsored by the Spatial Information Industry Promotion Institute, the event is prepared to support ventures which suffer from lack of fund in their early stages. The spatial information industry deals with the construction and service related to spatial information such as information production, process, distribution and practical usage of the information. Geographic information system (GIS), e-maps, global positioning system (GPS) and location-based service (LBS) and u-city are all parts of the category.
However, most start-ups in the industry feel financially strapped due to the lack of strategies and networks.
In the event, Kim Chang-suk, representative of the Korea region of the Access America Investment and Fund (AAI), will give a lecture on angel investment including investment inducement strategy and investment contract know-how. During the follow-up mentoring session, Koh Young-ha, chairperson of the Korea Business Angels Association, will offer consulting to seven selected start-ups for their business growth strategies and investment inducement tactics by one-to-one mentoring.
An official with the ministry said, “With the event, we expect more spatial information industry start-ups to win investment and we will review various methods to offer them to get needed money in their early stages.”
By John Choi (firstname.lastname@example.org)