Busan Signs MoU with Yozma Group to Invest in Busan-based Innovative Companies
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The city of Busan signed a Memorandum of Understanding (MoU) with Israel's leading venture capital firm YOZMA GROUP (Chairman, Yigal Erlich) to invest in Busan-base innovative companies at Busan City Hall on April 13, 2021.
The signing ceremony included Park Heong-joon, Busan Mayor; Yigal Erlich, Chairman of YOZMA GROUP; Yaniv Goldberg, Head of Israel Economic and Trade Office, the Embassy of Israel in Korea; Lee Won-jae, Yozma Group Korea CEO and Park Se-jeong, Head of Busan Deus Valley Business Group.
The MoU aims to attract and assist outstanding venture startups, create youth jobs and revitalize the Busan economy by establishing a leading Asian startup platform in Busan.
The main contents of the MoU include:
▲ Attract technology venture investment and financial conferences, global start-up projects to Busan
▲ Attract Venture Capital Vertex, OurCrowd to Busan
▲ Operate a global accelerator program for Busan-based startups
▲ Collaborate to launch specialized venture capital in Busan
▲ Commercialize technology with Weizmann Institute
The city of Busan plans to launch a start-up investment company specializing in Busan and promote balanced investment in new and traditional industries, including bio-healthcare, Green Tech, Fintech, Metaverse, contents, Food Tech, manufacturing and services specialized for Busan and marine new industry.
YOZMA GROUP
Yozma Group started as the Yozma Fund created in conjunction with the Israeli government in 1993 to support the globalization of Israeli start-ups and to foster the growth of Israel`s venture capital industry. The fund, which was privatized in 1998, has supported 97 Israeli tech ventures to join the Nasdaq stock market.
YOZMA GROUP KOREA
Yigal Erlich founded Yozma Group Korea to serve as the hub for the Asia region in 2015. Drawing on the Israeli-style incubation system and its global network, the company provides services in all areas, from investments to exits, in order to cultivate exponential growth by helping Korean and Asian companies make headway in the global market.
For more information, please contact the Employment & Start-up Division at (051)888-4424.
