Asan Nanum Foundation

What Asan Nanum Foundation does

The Asan Nanum Foundation is a non-profit public welfare foundation established in October 2011 in Seoul, South Korea, founded to commemorate the 10th anniversary of Asan Chung Ju-young (정주영), the founder of Hyundai Group. Its core mission is to spread entrepreneurship across Korean society through four program pillars: entrepreneurship education, youth startup support, social innovation, and innovation ecosystem development. The foundation operates a comprehensive platform-plus-programs model centered on its MARU startup incubation brand, which comprises two physical co-working hubs in Seoul's Gangnam/Yeoksam district (MARU180, opened April 2014, with approximately 3,600 sqm; and MARU360, opened November 2021, approximately twice the size of MARU180), plus an international expansion via MARU SF, a Silicon Valley community hub in San Mateo that soft-opened in May 2025.

MARU delivers subsidized office space, mentorship from 90+ industry experts, investor matching, and a corporate partnership benefits program (MARU Benefit) worth up to 14 billion KRW annually through partnerships with OpenAI, NVIDIA, Anthropic, AWS, Microsoft, IBM, KT, and Google. The platform is differentiated by co-locating startups alongside VCs and accelerators (SparkLabs, Capstone Partners, FuturePlay) within the same building, creating a self-contained micro-ecosystem with built-in deal flow. Reported outcomes include a 90.3% five-year survival rate for MARU180 graduates versus a 36.3% national average, with 71% of resident startups securing investment during residency.

The foundation's business model is endowment-funded: all programs, services, and competition prizes are provided entirely free to beneficiaries. Over its first decade (2011–2021), the foundation deployed approximately KRW 1,090 billion in capital and generated an estimated KRW 4,486 billion in social value, partnering with 1,406 individuals and 364 institutions. Revenue is not publicly disclosed. The foundation operates as a standalone entity with no external shareholders or venture capital investors, governed by a board of directors under Korean public welfare foundation law, with current Chairman Eom Yunmi (엄윤미) leading operations.

Name

Asan Nanum Foundation

Legal name

The Asan Nanum Foundation

Website

https://asan-nanum.org

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Asan Nanum Foundation is a Seoul-based non-profit public welfare foundation that provides free entrepreneurship education, startup incubation through its MARU platform, and social innovation programs to Korean youth, founders, and nonprofit leaders, funded by its endowment.

Ownership category

akta.pro rank

Product category

Startup Incubation and Entrepreneurship Programs (Nonprofit Foundation)

NAICS

Educational Support Services (611710), Professional and Management Development Training (61143)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Entrepreneurship Foundations & Startup Basics (EDAMAHAA)

akta.pro secondary industry

Youth Business Incubators & Accelerators (EDAMAHAC)

Keywords

• Nonprofit foundation
• Startup incubation
• Entrepreneurship education
• Youth entrepreneurship programs
• Social innovation support

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Foundation Endowment and Social Investment: The foundation operates as a public welfare organization funded by its endowment established in 2011 and ongoing contributions. It deploys capital to provide free programs — entrepreneurship education, startup incubation, community facilities, mentorship, and grants — generating social value rather than commercial revenue. Programs such as Maru180/Maru360 space support, leadership coaching, and the Jung Joo-young Startup Competition are fully subsidized, with no revenue collected from beneficiaries.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

The Asan Nanum Foundation is a public welfare foundation that operates the MARU startup incubation platform (Maru180 and Maru360 coworking hubs in Seoul plus MaruSF in Silicon Valley) and four program pillars — entrepreneurship education, youth startup support, social innovation, and innovation ecosystem development — all provided free of charge to participants and funded by its endowment. Its standalone offerings include the Jung Joo-young Startup Competition (with tracks Asan Voyager, Asan Sanghoe, Asan UniverCT, Asan Doers), Asan Leadership Coaching, Asan Frontier Academy for social sector leaders, the Jung Joo-young Angel Investment Fund, and education programs such as Asan Youth Runner and Asan Teacher Runner.

Product overview

Asan Nanum Foundation operates a platform-plus-programs model centered on MARU (마루), its entrepreneurship platform. MARU itself comprises two co-working hub facilities — Maru180 (opened April 2014) and Maru360 (opened November 2021) — providing office space, growth programs (MaruConnect mentoring, Maru IR Matching for investor relations, Maru Benefit corporate partnerships), and community support (Maru Townhall, Maru Workshop, Pay-it-Forward culture). The platform also extends globally via MaruSF in Silicon Valley. Around MARU, the foundation runs four program pillars: (1) Entrepreneurship Education (Asan Youth Runner, Asan Teacher Runner, Asan Entrepreneurship Review/AER, Entrepreneurship Let's Go, Asan Leadership Coaching, Work-in Startup); (2) Youth Startup Support under the Jung Joo-young Startup Competition — with four tracks (Asan Voyager for US market GTM, Asan Sanghoe for newcomer entrepreneurs, Asan UniverCT for climate tech university spin-offs, Asan Doers for college student entrepreneurs); (3) Social Innovation Support (Asan Frontier Academy, Asan Frontier Network, Asan Nonprofit Startup); and (4) Innovation Ecosystem Development (Startup Ecosystem Research, Innovation Ecosystem Partnership, Jung Joo-young Angel Investment Fund). Maru Tour provides physical access and accessibility (English tours, real-time text interpretation for hearing impaired) to the MARU ecosystem. Together these form a comprehensive startup support infrastructure from education through acceleration, investment, and global expansion.

Differentiator

Problem solved

Functional benefit

Brands

• MARU: The foundation's primary entrepreneurship platform, operating startup incubation spaces including Maru180 and Maru360 in Seoul, and MaruSF in Silicon Valley. MARU provides office space, growth programs, mentorship, investment networking, and a pay-it-forward community for startups.
• Maru180
• Maru360
• MaruSF
• Asan Voyager (아산 보이저)
• Asan University / Asan UniverCT (아산 유니버시티)
• Asan Frontier Academy (아산 프론티어 아카데미)
• Asan Leadership Coaching (아산 리더십 코칭)
• Asan Youth Entrepreneur (아산 유스프러너)
• Asan TeacherPreneur (아산 티처프러너)
• Jung Joo-young Startup Competition (정주영 창업경진대회)
• Asan Sanghoe (아산 상회)
• Asan Doers (아산 두어스)
• Asan Non-profit Startup (아산 비영리스타트업)
• Maru Tour (마루투어)

Products and services

• MARU Startup Incubation Platform (마루) Core entrepreneurship platform providing co-working space infrastructure, startup growth programs (mentorship, IR matching, corporate partnership benefits), and community support to approximately 30 resident startups at a time. Includes the dual-hub Seoul presence (Maru180 and Maru360) and Silicon Valley residential hub (MaruSF). Resident startups gain access to 90+ expert mentors and 6.2 to 14 billion KRW in annual corporate partnership benefits.
• Jung Joo-young Startup Competition (정주영 창업경진대회) Flagship startup competition serving as a talent pipeline for startup founders; multiple tracks include Asan Voyager (US market go-to-market), Asan Sanghoe (newcomer entrepreneurs), Asan UniverCT (climate tech and university startups), and Asan Doers (college student entrepreneurs).
• Asan Leadership Coaching (아산 리더십 코칭) Coaching program for startup founders and representatives enhancing resilience and leadership skills. Provides individual coaching for startup representatives and team coaching, with all costs fully covered by the foundation; alumni gain access to an online entrepreneurship platform.
• Asan UniverCT (아산 유니버시티) Climate tech startup acceleration program in partnership with universities (Seoul National University, Yonsei University, Ewha Womans University, KAIST) supporting university spin-offs and student-founded climate tech ventures through mentorship, grants, and demo day opportunities. Includes the Asan UniverCT climate tech track with 120 million KRW in total prizes and pitching opportunities at Climate Week NYC.
• Asan Youth Runner (아산 유스프러너) Entrepreneurship education program for teenagers focused on cultivating entrepreneurial mindset among future generations; includes annual Demo Day events (e.g., 2026 Asan Youth Runner Demo Day open applications).
• Asan Teacher Runner (아산 티처프러너) Program for current teachers to incorporate entrepreneurship education into their curriculum, training educators as facilitators of entrepreneurial mindset.
• Asan Frontier Academy (아산 프론티어 아카데미) Seven-month professional education program for social sector managers, developing leadership, management skills, and entrepreneurship. Covers strategy, HR, marketing, finance, leadership, ESG/impact, and capstone projects. Since launching in 2013, has produced 392 graduates from 289 institutions across 14 cohorts.
• Asan Nonprofit Startup (아산 비영리스타트업) Social innovation acceleration program supporting nonprofit startups (social enterprises) with a growth track, providing mentorship and resources to scale social impact. Eight growth-track teams presented projects at the 2025 Nonprofit Startup Conference.
• Jung Joo-young Angel Investment Fund (정주영 엔젤투자기금) Angel investment fund that channels capital into the Korean startup ecosystem through accredited venture capital firms and accelerators; co-invests through 16-29 partner VC and accelerator funds, indirectly investing approximately 1,921 billion KRW into startups with 786 startups funded as of 2020.
• Maru Tour (마루투어) Free offline space tour program at MARU for entrepreneurs, investors, and support organizations. Offers guided tours of Maru180 and Maru360, mini interviews with resident startup teams, and entrepreneurship-themed gifts; includes English-language tours for international visitors and real-time text interpretation for the hearing impaired.
• MARU 2025 H2 Placement Program Half-year residency batch at MARU offering up to 1.5 years of office space, growth and community support; 90+ expert mentors; and corporate partnership benefits worth up to 14 billion KRW annually.
• Asan Entrepreneurship Review (AER) (아산 기업가정신 리뷰) Case study publication series and platform analyzing entrepreneurship cases and business models, publishing research and insights on the startup ecosystem.

Quantifiable outcome

• MARU180 graduate startups show 90.3% five-year survival rate vs. 36.3% national average for Korean startups
• +4 more outcomes

Named customers33 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Partnerships

Ten partnerships are on record, tiered supporting and core.

• DeskersupportingStrategic or Co-development Partner · 1 January 2025Office furniture brand Desker partnered with the foundation to support startup workspace improvement. The 'Office Change Program' provides up to 6 graduate startup teams per year with designed office space and free Desker furniture. MARU alumni also receive free lounge access at Desker Hongdae and monitor stand gifts.
• OpenAI, NVIDIA, AnthropiccoreTechnology or Integration · 1 January 2025MARU's benefit program (MARU Benefit) includes partnerships with leading AI companies OpenAI, NVIDIA, and Anthropic, providing approximately 13 billion KRW in annual benefits to resident startups for cloud and AI services.
• NVIDIA Inception VC AlliancecoreStrategic or Co-development Partner · 1 January 2025The foundation was selected as a member of the NVIDIA Inception VC Alliance in 2025, enabling it to actively support Korean startups' overseas expansion through NVIDIA's global network and resources.
• SOSVsupportingStrategic or Co-development Partner · 1 January 2025Global climate tech investor SOSV partnered with the foundation to hold networking meetup events at MARU for Asan UniverCT climate tech startup teams, providing mentorship and global investment ecosystem access.
• 중소기업진흥공단 (SME Public Corporation)supportingStrategic or Co-development Partner · 1 January 2019Business cooperation with the SME Public Corporation for policy program support for MARU resident and graduate startups, including access to government startup support schemes.
• Airbnb KoreasupportingStrategic or Co-development Partner · 1 January 2016Airbnb Korea provided bedding for MARU180's nap rooms and runs the 'Airbnb Business Travel Program,' offering resident startups 150 USD in accommodation vouchers per trip. Startups used this for conferences like MWC, SXSW, and GDC.
• Urban Play (Flip Lobby Operator)supportingImplementation/ SI/ Consulting Partner · 1 January 2016Urban Play operates 'Flip Lobby,' a popup store on the first floor of MARU180, providing startups with a free retail space to promote their products and engage customers. The foundation covers all design and construction costs.
• AWS, Microsoft, IBM, KT (Cloud Partners)coreTechnology or Integration · 1 January 2015Technology companies provide cloud computing credits and platform resources to MARU resident startups. These partnerships form the core of the MARU Benefit program, offering startups free or discounted access to enterprise-grade cloud infrastructure.
• Google Campus SeoulcoreStrategic or Co-development Partner · 1 January 2014Google Campus Seoul operated within the MARU180 building starting in 2015, providing startups access to the global Tech Hub Passport network (free co-working space at 12 countries' Google Campuses for 2 weeks), Google for Entrepreneurs resources, and promotional support.
• SparkLabs, SparkLabs Ventures, Capstone Partners, FuturePlaycoreChannel Partner/ Reseller/ Distributor · 1 January 2014Major Korean accelerators and VCs (SparkLabs, SparkLabs Ventures, Capstone Partners, FuturePlay, and others) are co-located at MARU180/MARU360, creating a built-in investment network for resident startups. These firms benefit from deal flow proximity while startups gain direct investor access.

Scale indicators8 records

Recent moves3 records

Expansion highlights6 records

Broad incumbents

• Techstars: Global accelerator network with mentorship-driven programs for early-stage startups. Comparable in program structure (mentor matching, Demo Day, cohort-based), though operates globally and takes equity stakes.
• Y Combinator: Global gold-standard startup accelerator with comparable mission of supporting early-stage founders through programs, mentorship, and community. MARU's batch structure and Demo Day mirror YC's format, though YC operates globally and takes equity.
• Plug and Play: Global startup accelerator and venture fund with corporate partnerships. Comparable in offering corporate-partnership-driven startup programs and AI/climate tech focus areas.
• Google for Startups: Google's startup support program previously co-located with MARU180 via Google Campus Seoul (2014-). Comparable in providing free global tech resources, mentorship, and cloud benefits to Korean startups.

Direct peers

• SparkLabs: Korean accelerator and VC co-located at MARU180. Comparable as a direct operator of seed-stage Korean startup acceleration programs with similar target founders and program structure.
• Capstone Partners: Korean venture capital firm co-located at MARU. Comparable as a Korean seed-stage investor working with the same early-stage startup pool.
• FuturePlay: Korean early-stage accelerator and VC with deep tech focus, co-located at MARU180. Comparable as an early-stage Korean startup investor with mentor-driven programs.
• D.CAMP: Daewoong Foundation's startup hub in Seoul providing co-working, mentorship, and investment programs. Most directly comparable as another large Korean corporate-affiliated non-profit startup incubator with a similar Gangnam-area footprint and free/subsidized model.

Others

• SOSV: Global venture capital and accelerator (partner with MARU for climate tech programs via HAX/IndieBio). Comparable as a startup support partner through their climate tech programs and global network access.

Regional players

• TIPS (Tips for Innovating Public Startups): Korean government startup support program operated by the Ministry of SMEs and Startups. Comparable as a Korean early-stage startup funding/incubation program with selective cohort-based selection.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCGcV3lb8krcPJqxW4Pi0ofg
• Facebookfacebook.com/TheAsanNanum
• LinkedInlinkedin.com/company/asan-nanum-foundation
• Instagraminstagram.com/asannanum_official
• Xx.com/asannanum

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asan Nanum Foundation