From investment reviews to free office space, companies up to 7 years old in any industry may apply
Applications close November 13
20 companies each in Mapo, Guro, Daejeon and Busan; about 10 each in Gwangju and Daegu… 5-month accelerator program
[Key Takeaways] Industrial Bank of Korea is accepting applications from innovative startups for the first half of 2027 through its startup support platform, IBK Changgong. Applications must be submitted online through the IBK Changgong website (ibkchanggong.com) by 2 p.m. on Friday, November 13. Small and midsize companies with innovative technology or ideas that have been in business for no more than seven years as of the application deadline may apply, regardless of industry (prospective founders are not eligible). The program will select about 100 companies in total: 20 each in Mapo, Guro, Daejeon and Busan, and about 10 each in Gwangju and Daegu. It will run for five months, from January through May 2027. Selected companies will receive comprehensive support through the IBK Financial Group, including investment reviews and specialized loans, accelerator training and mentoring, IP, tax and legal consulting, market access and open innovation opportunities, free dedicated office space, and exit strategy support. Final selections will be made in late December after a three-stage process: document screening, on-site inspections and in-person evaluations.
An accelerator operated directly by a bank is opening its doors again. IBKIndustrial Bank of Korea has announced applications for the first half of 2027 cohort of IBK Changgong, its startup support platform. Changgong is a shortened form of “startup factory” and carries the aspiration to “take flight from Changgong (創工) into the open sky (蒼空).” The platform connects startups with the Industrial Bank of Korea’s expertise in small and midsize business finance, consulting capabilities and global network.
Who can apply? Companies up to 7 years old, with no industry restrictions
Eligible applicants are small and midsize companies with innovative technology or ideas that have been in business for no more than seven years as of the application deadline. There are no industry restrictions, but prospective founders are not eligible. For sole proprietorships, the business start date on the business registration certificate determines the company’s age; for corporations, the date of establishment listed on the certificate of all registered matters determines it. Companies that are insolvent, closed or suspended, or delinquent on national or local taxes are ineligible. Applications may also be restricted if the company or its representative faces difficulty conducting financial transactions because of a default or similar issue.
Applications are open from 9 a.m. on Monday, October 19, through 2 p.m. on Friday, November 13. Applicants must complete an online application at the IBK Changgong website (www.ibkchanggong.com). They must upload PDFs of a business plan (using the website’s form), business registration certificate, standard financial statements for the most recent three years (for companies less than three years old, from founding through the most recent year), and certificate of all registered matters (for corporations). The program will select 20 companies each in Mapo, Guro, Daejeon and Busan, and about 10 each in Gwangju and Daegu. Applicants may not apply to more than one Changgong location.
What support is available? A full package from a financial group accelerator
Selected companies will receive support across six areas for five months, from January through May 2027.
· Investment and loans: Investment reviews by the IBK Financial Group for promising companies; fundraising support through monthly investor relations sessions and demo days; support for global fundraising and the preparation of IR materials; access to specialized IBK Changgong loan products; and continued consideration for follow-on investment after graduation
· Training and mentoring: IBK-style accelerator training; mentoring from industry- and field-specific experts; support for venture certification and the establishment of corporate R&D centers; and support for participation in the Net Zero Challenge X
· Consulting: IBK consulting services for IP (patents), tax, accounting, legal and labor matters; advice on prior-art searches and intellectual property protection strategies
· Market access and marketing: Market access support through the bank’s corporate clients; open innovation with the IBK Financial Group and large and midsize companies; support for overseas accelerator programs and participation in trade shows in Korea and abroad; and product and service promotion and design support
· Office space: Free workspace at IBK Changgong for companies seeking to move in, with extensions discussed in six-month increments
· Scale-up: Programs linked with large and midsize companies and government agencies; exit strategy support, including IPOs and M&A; and technology development (R&D) support programs
How are companies selected? Three stages: documents, on-site inspection and in-person evaluation
Selection takes place in three stages. In the first stage, document screening, submitted materials and eligibility requirements are reviewed. In the second, an on-site inspection checks whether the business is actually operating and assesses the condition of its workplace. In the third, an in-person evaluation assesses the company’s capabilities through a presentation and questions and answers. Evaluators consider the founder’s commitment and ability to carry out the business plan; the technological differentiation and feasibility of the product or service (innovation); and the marketing strategy and growth potential (marketability).
Document screening results and on-site inspections are scheduled for early December, in-person evaluations for mid-December, and the announcement of final selections for late December. The admission ceremony and orientation are scheduled for early January 2027. Results at each stage will be communicated through the website.
For inquiries, contact the IBK Changgong operating offices: Mapo (02-6732-0007), Guro (02-376-5708), Busan (051-638-1261), Daejeon (042-861-8828), Gwangju (062-714-3288) or Daegu (053-351-1550).
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· Meta description (about 155 characters): Industrial Bank of Korea is seeking about 100 innovative startups for the first half of 2027 cohort of its IBK Changgong platform. Small and midsize companies up to 7 years old in any industry may apply by November 13. Support includes investment reviews, accelerator services, consulting and free office space.
· Key terms: IBK Changgong applications, innovative startups, Industrial Bank of Korea startup support, accelerator program, startup support program
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