About the Korea Venture Business Association (KOVA)
The Korea Venture Business Association (KOVA) was founded in 1995 to contribute to national economic growth by helping Korean venture companies achieve technological innovation and improve competitive power in management. The association has since played a pivotal role in legislating the <Act on Special Measures for the Promotion of Venture Companies>, as well as establishing a wide spectrum of infrastructure to help promote the country’s venture companies as they became listed in the predominantly tech-hardware KOSDAQ. KOVA has also consistently performed surveys to help reinforce the capability of Korean venture companies and proposed various policy ideas to the government based on survey results. The association’s efforts also include a number of support projects focusing on specialization of venture companies, such as local and international marketing to help manage companies, product and company promotion, employee training , and support for technological development.
History of KOVA
2008 Dec Opened help desk for venture companies with financial difficulties
2008 Aug Integrated KOVA and KOIBA (Korea IT Business Association)
2007 Aug Opened affiliated venture business research institute
2007 Jan Opening ceremony for the new KOVA office in the Guro Digital Complex
2005 Feb Declared Venture Vision 2010
2000 Dec Founded INKE (International Network of Korean Entrepreneurs)
1999 Dec Opened Seoul Venture Incubator Center
1997 Nov Hosted Venture Company Awards and Venture Korea event
1996 Sep Proposed promotion initiatives for KOSDAQ market
1995 Dec Held KOVA founding meeting and first president inauguration ceremony (Mr. Lee Min-hwa)
INKE, Support Network for Korean Venture Companies
KOVA operates an organization to help promote overseas advancement of Korean venture companies: INKE (International Network of Korean Entrepreneurs) (www.inke.org). A ‘global business network’ whose major players include Korean businessmen working and engaging deeply in the world market, INKE has, as of October 2009, secured its network of 50 branches across 30 countries around the world. The organization constantly links Korean venture companies keen on exporting and advancing into non-Korean markets to INKE members from around the world, leading to approximately 200 million dollars in revenue each year. As an aggressive proponent of Korean venture companies’ global leadership,
INKE also operates the Korea Venture Gallery, a display and marketing function, in Moscow, Russia; Jeddah, Saudi Arabia; Fukuoka, Japan; Sao Paulo, Brazil; and Ho Chi Minh, Vietnam.