GBike, led by CEO Jong-soo Yoon, operating the personal mobility (PM) sharing platform GCOO, has been announced as one of the selected companies for the 11th term of the 'Innovation Icon', a representative scale-up program by the Credit Guarantee Fund (hereinafter referred to as KODIT) on the 7th.
The 'Innovation Icon Support Program' is KODIT's leading scale-up program designed to support high-speed growth of startups that are equipped with innovative business models and have high potential to become future unicorns (venture businesses with a valuation over 1 billion dollars). A total of 141 companies applied for this intake and, after thorough evaluation by an expert panel, 5 companies were selected, marking a competitive ratio of about 28 to 1.
The companies selected as Innovation Icons receive various financial and non-financial services, including: △credit guarantees up to 20 billion won for 3 years △the lowest guarantee fee rate (0.5%) △additional interest rate reduction through partnering banks △support for overseas expansion △various consulting and promotional support.
Established in 2017, GBike operates the personal mobility (PM) sharing platform 'GCOO'. Currently, GBike operates around 110,000 electric scooters and electric bicycles, maintaining its position as number one in the Asian market in terms of sales for 2022 and 2023, and has led the market share and sales in the domestic market since October 2020.
In the midst of an investment winter period due to interest rate hikes and economic downturn in 2023, GBike remains the sole company in the domestic PM industry that has attracted investment based on performance indicators such as revenue growth and operating profit.
GCOO has secured a stable revenue structure by mitigating seasonality through the launch of global services beyond South Korea in countries such as the USA, Thailand, and Vietnam, and has been successful in developing and commercializing domestically made shared PM focused on ride safety and operational efficiency. By entering new industries such as Battery Sharing Stations (BSS) and wireless charging stations, which are infrastructure for expanding and streamlining the PM sharing market, GCOO has demonstrated the sustainability of innovative growth and has been chosen as an Innovation Icon.
This year, GCOO is preparing to launch a battery subscription service targeting personal mobility (PM) and electric motorcycle users in Korea and Southeast Asia through the Battery Sharing Station (BSS).
CEO Jong-soo Yoon of GBike stated, "Eco-friendly mobility goes beyond trends to become an essential choice for a sustainable future," and expressed his pleasure at being selected for the Innovation Icon, acknowledging GCOO's distinction and technological prowess in the next-generation mobility field. He added, "With the support of the Innovation Icon Program, we will dedicate our efforts to R&D, making country-specific hardware customization for service stabilization abroad."
