A support facility for nurturing startups (new companies) in the blockchain and fintech fields in Busan has opened. If this facility establishes itself as a regional innovation hub for the industry, companies are expected to secure stable investment and growth opportunities.
Busan Metropolitan City and Woori Financial Group held the opening ceremony of the 'Dino Lab B Center' at the Eurasia Platform in Busan Station on the afternoon of the 13th. The Dino Lab B Center is a startup nurturing hub created through the cooperation of Busan Metropolitan City and Woori Financial Group, and it will focus on helping the development of companies in the financial technology fields such as blockchain and fintech.
In December of last year, Busan Metropolitan City signed a 'Memorandum of Understanding for Activating the Startup Ecosystem and Creating an Investment Environment' with Woori Financial Group. Accordingly, Woori Financial has agreed to discover promising startups in the Busan region and support them with investment and office space. The Dino Lab B Center opened this time is part of this collaboration, playing a role in promoting the growth of new companies. Busan Metropolitan City and Woori Financial Group plan to also act as a catalyst for these companies' global market entry and overseas marketing.
The 7 startups selected last month as Dino Lab B Center tenants consist of 3 blockchain companies (Blocko XYZ, Bidax, Crosshub) and 3 fintech companies (Newai, Devdi, AM Management), as well as 1 space platform company (Livex). Blocko XYZ has developed a solution that generates, transfers, and manages digital assets in the form of Non-Fungible Tokens (NFTs) and Fungible Tokens (FTs) for physical assets. Bidax is a digital asset custody company that provides services such as cryptocurrency ETFs and token securities. Crosshub provides blockchain-based identity verification and simple payment services for foreigners.
Busan Metropolitan City's Finance and Startup Policy Director Nam Dong-woo said, "We will continue to provide ongoing support so that Busan can establish itself as the center of startups and innovation."
