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Busan city signed an MOU with Israeli VC firm Yozma Group on Apr 13

According to Yonhap News,

The city of Busan signed a partnership deal with Israeli venture capital firm, Yozma Group over investment in innovative startups, a city official said on Apr 13. In celebration of the MOU signing ceremony, a group of senior level city officials, Yigal Erlich, a founder and chairman of Yozma Group, Yaniv Goldberg, the head of Israel Economic and Trade Office at the Embassy of Israel in Korea, Lee Won-jae, Yozma Korea CEO and Park Se-jeong, a project manager of DEUS Valley have attended the event. The partnership deal has reached in an attempt to form the best VC platform hub in Asia in the city of Busan, thereby attracting innovative venture startups and boosting the youth employment in the community.

Both the city and Yozma Group will work together to provide a startup support package which entails raising funds for tech-startups in Busan city, hosting financial conferences and banking events to run VC startup projects, attracting the world’s renowned Jewish venture capitalists in Busan city, running global startup accelerator programs and building technology alliance with Wiseman Research Group who hits nearly KRW 42 trillion in sales. Launching a specialized, Busan only VC service, named “Busan Ventures”, the city is planning to provide funds for both traditional and non-conventional business that include bio-healthcare, green technology, fintech, metaverse, content production and foodtech etc.

The founder of the Israeli firm said “Turning the partnership with Busan city into a great momentum, we’ll provide a full range of services like partnership matching, strategy setting and fund raising to help manufacturers and startups based in the city of Busan further scale up and grab opportunities in the global market.”

Source Text

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Source:Yonhap News (Apr 13, 2021)

** This article was translated from Korean.