South Korea’s non-profit startup incubation foundation D.CAMP funded by Korean lenders and financial institutions has opened its first regional startup lounge in the southern port city of Busan in partnership with Busan Metropolitan City and BNK Busan Bank, accelerating efforts to strengthen competitiveness in regional startup ecosystem.

During the opening day on April 28, various programs have been conducted under a theme of ‘region.’

Startups and local fund operators were matched to discuss cooperation on market expansion while startup demo day event D.Day themed on upcycling was held in the afternoon.

IFBI and Linkflix beat out five other finalists to win the regional event.

IFBI won the D.CAMP award with its Walld business to use walls for billboard advertising with artists. The up-cycling of walls can bring back the liveliness of an aged city, it says.

Linkflix grabbed the Busan City Mayor award with its development of bio-degradable adhesive Ad-Coni. The colorless, odorless and nontoxic adhesive can be removed with water, and the solution bio-degrades by 98 percent in 30 days with no harm to animals, plants, soil and environment.

Blocally introduced vegan skincare brand Oundo and vegan bodycare brand Uglychic with a plan to enter into the North American market through Amazon.com. Staybility provides second house-sharing service by selling the ownership to multiple customers after remodeling of houses. Individual buyers can reduce the financial burden by paying part of the price for a second house, and Staybility will be responsible for facility management and operation.

D.CAMP is a non-profit foundation built in 2012 by 18 financial institutions with investment of 845 billion won ($667.2 million) for vitalizing the Korean startup ecosystem, nurturing early-stage startups, and creating jobs for the younger generation.

By Lee Ha-yeon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]