CONNECTING MONGOLIAN STARTUPS WITH KOREA’S STARTUP ECOSYSTEM THROUGH “STARTUP TOWN”

 

Representatives of Ulaanbaatar City met with senior representatives of the Korea Institute of Startup & Entrepreneurship Development (KISED) to discuss the establishment and implementation of the “Startup Town” center in Mongolia, startup incubation and acceleration programs, the startup investment environment, and opportunities to strengthen cooperation between the startup ecosystems of Mongolia and the Republic of Korea.

The meeting was attended by B. Munkhbat, First Deputy Governor of the Capital City for Economic Development and Infrastructure; J. Batbayasgalan, Senior Advisor to the Governor of the Capital City and Chairman of the Board of Directors of Ulaanbaatar Investment Management SC LLC (UBIM); G. Gangamurun, Chief Executive Officer of UBIM; G. Jargalsaikhan, Deputy Governor of the Capital City; and representatives of relevant organizations.

During the meeting, the parties discussed developing Startup Town not merely as a shared workspace, but as a comprehensive startup support hub that will identify and nurture promising startups, provide mentoring and business advisory services, facilitate connections with investors, and strengthen startups’ access to global markets.

The center is planned to be established in Ulaanbaatar across a total area of 1,040 square meters. The facility is expected to bring together co-working areas, training and advisory spaces, dedicated startup offices, an event hall, a Korea Lounge, and a Maker Space within a single integrated startup support environment.

The parties also discussed plans to select promising Mongolian startups and provide them with specialized training, company specific mentoring, business model development support, and opportunities to participate in investor relations (IR) pitching sessions, enabling them to present their businesses and investment propositions directly to potential investors.

The program is planned to take place on 13–15 October 2026.

Going forward, the parties will work to establish stronger and more sustainable linkages between Mongolian startups and KISED’s global network, Korea’s startup ecosystem, investors, accelerators, and partner organizations. Cooperation is expected to include joint startup support programs, knowledge and experience exchange, investor connectivity, and initiatives aimed at expanding market access for Mongolian startups.

UBIM is contributing to the coordination of relevant projects and programs aimed at strengthening Ulaanbaatar’s startup and innovation ecosystem, expanding access to financing and investment opportunities, and supporting the growth and market expansion of startups through international partnerships.