CNU established its second startup funds to spur investment for early start-ups in the Gwangju and Jeonnam regions.

On December 30th, CNU held a general meeting of the Bitgaram No 1. Private Investors’ Association for University Startups in the G&R Hub. The net worth of the total funds of the association is 4 billion KRW.
 
JNU Holdings and the Gwangju Regional University Federation of Technology Holdings participate in the funding as the joint business executive alongside the limited liability partnership of the Jeonnam Regional University Federation of Technology Holdings and the special membership of the Korea Fund of Funds.

The University Startup Funds have been established with the intention of supporting start-up entrepreneurs from universities with the intensive investment of university holdings through matching with the Ministry of Education and Korea Venture Investment Corporation since 2017. On September 5, 2019, four universities nationwide, including the consortium of CNU, Chungbuk National University, Soongsil University, and Hanyang University, were selected as the operators of the university funds for 2019.

The Bitgaram No.1 Private Investors’ Association for University Startups is the second university startup fund in which CNU has participated as a qualified member of the executive partnership after the first one, the 'NUC-4 University Startup Private Investment Association'. It is the second fund established in Gwangju and Jeonnam for university start-ups. It will be operated for eight years, including four years of primary investment to enhance the chance of survival and growth of startup companies through initial investments. The initial investment targets start-ups established in universities by students, faculty, and university holdings while also providing possibilities for technology transfer.

After the establishment of Bitgaram No. 1, CNU will be able to employ 7.85 billion KRW of capital together with NUC-4, laying the foundation for the stable and long-term investment for university startup companies in the region.
 
In particular, thirteen major universities in the Gwangju and Jeonnam regions, including Gwangju University, Chosun University, and Honam University are taking part in the fund project. It is expected to take a pivotal role in exploring, supporting, and investment for start-up business models in Gwangju and the Jeonnam regions through sharing the infrastructure for start-ups in the region.