Investment agreement concluded with start-up businesses

Economy
batchimeg@montsame.gov.mn
2020-07-02 18:07:09

Ulaanbaatar /MONTSAME/ “Socratus Studio” LLC is implementing a business development program, making investment to start-up companies. The selection of the program has recently been held and investment agreements have been established with T.Tegshjargal, founder of “Elephant Mom&Baby” brand and S.Oyunsaikhan, founder of “Roomies UB” business. 


Executive Director of “Socratus” program A.Munkhtsog noted that the company launched an accelerator program on start-up business development two years ago and they have supported 200 start-ups and made investment to eight businesses in the past. “We are happy with supporting youth businesses. Our business is an exchange of resource and possibility. In specific, business owners, who have wish to be involved in the program, have to make a list on what they need or what they lack to run their businesses and define their purposes and objectives. It is important to understand that we could become the best partners if we have the resource you lack to reach your goal,” he added.


In particular, one of the above-mentioned two businesses selected in the program is “Elephant Mom&Baby” brand of infant clothing and accessories brand and another one, “Roomies UB” is a business based on wish and need of Gen Z or accomodation business.




“Socratus’ program intends to grant monetary and non-monetary investment worth over MNT 2 billion to start-up businesses with its own capital in the first place. Moreover, it raised an additional investment of over MNT 500 million to two start-up businesses. Three other start-up businesses are under agreement stage to be involved in the program so far.