Reporting date	From Morning Paper of 2019.1.10.(Thu) (For Online reporting, from distribution)	Distribution Date	2019.1.9.(Wed)
Contact	Seo Dong-Gyeong, Team manager(042-865-7030), Kim Si-Han, Researcher(042-865-7031) of Project Planning of Future Strategy Office

INNOPOLIS Foundation, To create Micro VC Fund to promote Startup Business

-Creates startup dedicated fund over 15 billion Won in Daeduck INNOPOLIS in 2019

-Closes receipt of proposals till 9th February to select consigned management company

□ INNOPOLIS Foundation (Director: Yang Seong-Gwang) announced that it earnestly creates the 4th INNOPOLIS Fund (Provisional name: Daeduk INNOPOLIS Micro VC Fund) for vitalization of technology startups and continuous growth.

ㅇ This fund will be created with a size of 15 billion Won or more and will invest based on Daeduk INNOPOLIS where startup demand is high and the fund for INNOPOLIS of other area will be gradually created according to necessity such as conditions and demand.

□ INNOPOLIS Foundation has established technology finance road map and continuously created INNOPOLIS Funds so that customized technology financing support would be available by stage of enterprise growth.

* [2016] Startup Fund→[2017] INNOPOLIS Public Technology Based Fund→[2018] Job Creation Fund No. 2

ㅇ Nevertheless, it decided to create startup dedicated fund due to the necessity to increase the venture investment in the technology startup business rapidly increasing in INNOPOLIS and supplement the empty investment gap of startup business.

ㅇ This fund has been designed to intensively invest in the startup business by the management company by significantly lowering the reference return rate and plans to invest 300 to 500 million Won per a startup business whose business operation age is less than 3 years.

□ In order to select the management company which will manage the 4th INNOPOLIS Fund (provisional name: Daeduk INNOPOLIS Micro VC Fund),

ㅇ INNOPOLIS Foundation will receive proposals till 8th February and complete selection of the management company till end of February and create the fund within this year trough attracting additional investors such as local government, etc.

ㅇ For this, it will hold a project presentation on 17th January with domestic venture capitals and the notice for selection of management company is available through home page of INNOPOLIS Foundation (www.innopolis.or.kr).

□ Yang Seung-Gwang, director of INNOPOLIS Foundation said, ”creation of Daeduk INNOPOLIS Micro VC Fund will be foundation of not only creation of high quality jobs in INNOPOLIS but also stable growth and creation of success cases of technology startup business, and we will use an effort to expand the virtuous cyclic eco system of technology based enterprises“

Attachment. Overview of Recruitment of Consigned management Company of the 4th INNOPOLIS Fund

Attachment		Overview of Recruitment of Consigned management Company of the 4th INNOPOLIS Fund

1. Selection Overview

Item	Description
Minimum Closing Amount	○ 15 billion Won or more(Can increase to over 20 billion Won through additional increase method)
Number of consigned management company	○ 1 management company
Qualification for applying for management company	○ Startup Investment Association under Act On Special measures For the Promotion of Venture Businesses ○ Korea Venture Investment Association under Act On Special measures For the Promotion of Venture Businesses * The corporation which has been established as of receipt date of proposals and can create the fund according to applicable laws and regulations and execute service (Both existing and new management companies are qualified for application)
Survival Period	○ 8 years (can be extended to the extent not exceeding 2 years) ○ Invest within 4 years (can be extended for 1 year) from the fund creation date
Main Purpose of Investment	○ Preferentially invest 50% of total fund closing amount in SMEs and venture businesses located at Daeduk INNOPOLIS. ○ Intensive investment by 40% of total fund closing amount in SMEs and venture businesses whose main offices are located at Daeduk INNOPOLIS and business operation age is less than 3 years. * INNOPOLIS : The area made to create new technology through research and development, disseminate the result of R&D and promote the commercialization under Article 2 of Special Act on Promotion of INNOPOLIS.
Closing time of receipt of application	○ 15:00 on 8th Feb. 2019
Final Selection Date	○ XX Feb. 2019
Association Creation Period	○ Within 6 months from the final selection date (August 2019)

See Homepage (www.innopolis.or.kr) of INNOPOLIS Foundation for application method and details or ask below contact

Above contents are subject to change in the course of discussion between investors and management company

[Reception] Project Planning Team of INNOPOLIS Foundation 123 Gil 27-5 Expo-Ro Yuseong-Gu, Daejeon Metropolitan City

[Contact] 042)865-7031, shkim@innopolis.or.kr

2. Fund Project Presentation

Classification	Description
Date	15:00 on 17th Jan Thu). 2019
Place	INNOPOLIS Room 2F INNOPOLIS Foundation 123 Gil 27-5 EXPO-Ro Yuseong-Gu, Daejeon Metropolitan City