Fourteen startups selected across open innovation and incubator tracks
Program to connect promising ventures with business collaboration, consulting and investment opportunities
iM Financial Group has officially launched the eighth cohort of FIUM Lab, its startup accelerator program, as the company looks to expand support for promising startups and strengthen its digital competitiveness.
FIUM Lab was established in June 2019 as a fintech lab designed to bolster iM Financial Group’s digital capabilities and support the fintech industry. Through its first seven cohorts, the program has selected and nurtured a total of 76 companies.
The group said the name “FIUM” combines the “F” from fintech and the “I” from innovation. It also carries the meaning of “bringing fintech innovation into bloom.”
For the eighth cohort, recruitment focused on innovative technologies and services that could create synergies with iM Financial Group, along with priority areas identified by the group’s affiliates.
A total of 14 companies were selected amid strong interest from promising startups seeking collaboration with iM Financial Group.
According to the group, eight companies were chosen for the Open Innovation Track, which is aimed at pursuing practical collaboration such as business partnerships and service alliances between promising startups and iM Financial Group. The selected companies are Tredocs, which provides an automated letter-of-credit document review solution for bank foreign exchange operations; Hirediversity, which offers a one-stop service for foreign residents covering immigration, administrative and financial procedures; Seoul Labs, which supplies digital financial infrastructure based on its proprietary blockchain; Evertreasure, a fractional investment platform for cultural assets; Magent, an AI-powered interactive marketing content company; New-I, which provides real estate and asset tax simulation services; Connexio H, which analyzes nonfinancial data for e-commerce operators; and Polar Pulse, which offers a secure AI solution designed for corporate internal networks.
Six companies were selected for the Incubator Track, which focuses on discovering and nurturing startups with strong growth potential. They are Byte, an influencer marketing automation software provider for brands; Bering Lab, an AI translation service specializing in regulated industries such as law, patents and clinical research; Currency United, a platform that connects foreign currency holders and buyers for exchange at the basic exchange rate; Dodo Union, which provides wage advance services for Vietnamese foreign workers; DevD, a real estate card payment and settlement solution for monthly rent and other transactions; and Gold & Company, an AI-based gold trading platform that connects online and offline services.
Following the launch ceremony, the startups will pursue joint commercialization and business collaboration with iM Financial Group. They will also receive structured support programs, including customized growth consulting tailored to their size and business stage, as well as connections to investment opportunities and government-backed support programs.
“iM Financial Group is pursuing ‘new hybrid banking,’ which combines the strengths of commercial banks and internet-only banks,” iM Financial Group Chairman Hwang Byung-woo said. “We believe the eighth cohort of FIUM Lab will become a reliable partner as we stay ahead of rapidly changing technology trends and add new value to finance.”
“This year, FIUM Lab will take another leap forward through an integrated scale-up system that connects practical collaboration with affiliates, technology validation and strategic investment from the group,” Hwang said.
Source: TechWorld (https://www.epnc.co.kr)
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