{"id":7979,"date":"2021-11-12T13:00:36","date_gmt":"2021-11-12T04:00:36","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=7979"},"modified":"2024-01-24T13:49:22","modified_gmt":"2024-01-24T04:49:22","slug":"sk-innovation-introduces-eco-friendly-startup-nurturing-model-at-avpn-northeast-asia-social-investment-summit","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/7979","title":{"rendered":"SK Innovation introduces Eco-Friendly Startup Nurturing Model at AVPN Northeast Asia Social Investment Summit"},"content":{"rendered":"

\u25a0\u00a0The first domestic case of the government, large companies and impact funds working together to establish a startup ecosystem in the \u201ceco-friendly\u201d sector<\/strong><\/span><\/p>\n

\u25a0\u00a0Eco-friendly startups agree on the necessity of \u201cEGG,\u201d a program tailored to startups<\/strong><\/span><\/p>\n

–<\/strong>\u00a0It complements the weak points of startups such as investment, technology support, regulation improvement, and others,\u201d said Ecoin Energy CEO Lee In<\/strong><\/span><\/p>\n

– \u201cThe program supports us in material development, IR coaching, ESG certifications, etc.\u201d said Right Route CEO Shin Min-jeong<\/strong><\/span><\/p>\n

 <\/p>\n

On November 11th, SK Innovation participated in the AVPN Northeast Asia Social Investment Summit and led a panel discussion session by citing an example of South Korea\u2019s first eco-friendly startup ecosystem cultivation model so called EGG*, which was developed in collaboration with the government, large corporations and impact funds.
\n*EGG: A coinage of \u2018E\u2019 from SK Innovation (as in \u2018S\u2019 which has a phonetic symbol \u2018es\u2019) and \u2018G\u2019 from Green startups, it indicates solidarity to build together.<\/em><\/span><\/p>\n

 <\/p>\n

AVPN (Asian Venture Philanthropy Network) is the largest Asian impact investors and social innovation organizations\u2019 network that gathers about 600 global investment agencies, corporations such as BlackRock and the Rockefeller Foundation. Large companies, foundations, investors, supporting organizations, and innovative enterprises attended this year’s summit, which took place in Seoul, Korea from November 10th to 12th, 2021, and covered a wide range of topics including ESG (Environmental, Social, and Governance) related impact investment, sustainable management, public-private cooperation, and more.<\/span><\/p>\n

 <\/p>\n

From September this year, SK Innovation, the Ministry of SMEs and Startups, and the Korea Institute of Startup & Entrepreneurship Development have been operating EGG, a \u201clarge corporation co-op program based on startups leap package\u201d to foster the green startup ecosystem. Through EGG, 20 eco-friendly startups were selected to be nurtured into Green Unicorn Enterprises.<\/span><\/p>\n

 <\/p>\n

Startups selected by EGG program will each receive up to KRW 300 million as business support fund based on their startup sandbox packages, with the option to use the money to create a test bed with SK Innovation. In addition, three to five outstanding startups will be chosen and offered a joint business opportunity with one of SK Innovation\u2019s subsidiaries with the possibility of a joint investment and an \u201cimpact\u201d fund that serves the purpose of social innovation.<\/span><\/p>\n

 <\/p>\n

Nam Bo-hyun, CEO of HG Initiative, an impact investment company, Kim Mi-ae, Head of the Office of Startup Jumpstart of the Korea Institute of Startup & Entrepreneurship Development, and Jo Hwan-seong, a Team Leader of SK Innovation\u2019s ESG Strategy Office, along with two representatives from startups, CEO of Ecoin Energy Lee In and CEO of Right Route Shin Min-jeong attended the day\u2019s session and discussed the importance of alliance model for the growth of green startups.<\/span><\/p>\n

 <\/p>\n

\u201cSK Innovation is filling the gaps for startups in areas like investment, technology support, regulatory improvement, and more,\u201d stated Lee In, CEO of Ecoin Energy. \u201cEGG is not a mere social contribution activity of a large corporation but a good example of win-win cooperation between large companies and startups,\u201d Lee added.<\/span><\/p>\n

 <\/p>\n

CEO of Right Route Shin Min-jeong shared that \u201cThanks to SK IE Technology, a subsidiary of SK Innovation, we were able to obtain waste battery separator samples, which served to expedite our material development, and found the startup customized training such as IR coaching, and ESG certification very valuable.\u201d<\/span><\/p>\n

 <\/p>\n

Green startups selected for EGG include Soft Berry, Ecoin Energy, Bumyeong, Evit Company, Griin Agriculture, CNLD, Green Package Solution, JNK, Chemifolio, Right Route, Chungsol CNT, EUCNC, Ecolife Packaging, Air Green, F2B, Eosseomlaeb, The Load, KPMI, CycleOps, Dronic and others.<\/span><\/p>\n

 <\/p>\n

The panelists that participated in the session on November 11th acknowledged the difficulties of establishing a green ecosystem in the short term, and emphasized their goal of “creating a mutual partnership model to continue expanding eco-friendly impact.\u201d<\/span><\/p>\n

 <\/p>\n

[Photo] <\/span><\/strong><\/p>\n

SK Innovation members watch the AVPN summit online<\/span><\/p>\n

 <\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

\u25a0\u00a0The first domestic case of the government, large companies and impact funds working together to establish a startup ecosystem in the \u201ceco-friendly\u201d sector \u25a0\u00a0Eco-friendly startups agree on the necessity of \u201cEGG,\u201d a program tailored to startups –\u00a0It complements the weak points of startups such as investment, technology support, regulation improvement, and others,\u201d said Ecoin Energy … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":7987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4,8,56,65,55,1632],"tags":[731,88,274,732,348,15,557],"class_list":["post-7979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporates","category-press-room","category-press-release","category-sk-innovation","category-social-enterprise","category-social-value","category-sustainability","tag-avpn","tag-eco-friendly","tag-esg","tag-hg-initiative","tag-right-route","tag-sk-innovation","tag-startup"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/7979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=7979"}],"version-history":[{"count":3,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/7979\/revisions"}],"predecessor-version":[{"id":7988,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/7979\/revisions\/7988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/7987"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=7979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=7979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=7979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}