The FINANCIAL — IFC, a member of the World Bank Group, organized a workshop where experts urged governments, entrepreneurs, academics, and students to work together and foster healthy entrepreneurship ecosystems that will generate jobs and growth for future generations.
The event—the third Innovation Day organized by IFC—brought together experienced Korean and international thought leaders, entrepreneurs, and venture capitalists in Seoul. They shared insights on creating jobs and healthy entrepreneurship ecosystems in Asia, especially with a rapidly aging population.
IFC is the largest global development institution focused on the private sector in emerging markets and a leader in spurring disruptive technologies for development. IFC provides early-stage and late-stage venture capital financing through direct investments and funds. Since early 2000, IFC has invested half a billion in venture investments globally.
IFC launched the Innovation Day series last March to encourage more Korean businesses to come up with innovative solutions for emerging markets. Since 1985, IFC has provided over $10 billion in financing, including $6.7 billion mobilized from other investment partners, to nearly 100 Korean projects around the world. Nearly half of that financing—$4.3 billion in all—was delivered after IFC re-established its presence in Korea in 2013 to help Korean entities expand in developing countries.