Value of Venture Startups Fostered by POSCO Reaches KRW2tr
The combined market value of the venture startups that received investment from POSCO for the past 10 years amounts to 2 trillion won, according to the steelmaker.
POSCO marked the 10th anniversary of the POSCO Idea Marketplace (POSCO IMP), a venture cultivation program, with a ceremony at Pohang Change-up Ground in North Gyeongsang Province on Nov. 18. It declared “Good to Great” as the vision for the program for the next ten years.
POSCO has selected 411 promising venture companies over the past decade through the POSCO IMP and invested 21.5 billion won in 132 companies. The steelmaker linked 53 of them to the Tech Incubator Program for Startup (TIPS), an accelerator investment-driven technology venture incubator program, to help them receive continuous investments.
In the future, POSCO plans to select and foster venture startups with the focus on eco-friendly future materials, eco-friendly infrastructure and seed industrial groups, and actively support their overseas expansion in line with the group’s strategy to transform from a steelmaker to a company specializing in eco-friendly materials.
POSCO plans to actively foster venture startups so that they grow into global unicorn companies and NASDAQ-listed companies.
POSCO opened Pohang Change-up Ground in July following Seoul Change-up Ground in 2020, and expressed its ambition to grow it into Pacific Valley, a global center for high technology and innovation similar to Silicon Valley.
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