On May 31, 2022, the Mongolia startup ecosystem lost one it's most revered leaders and advocates.
Mergen Chuluun dedicated his life to growing entrepreneurship and increasing business opportunities for Mongolia. He was lost tragically early, at the age of 43.
Mergen was a selfless advocate for startups in Mongolia, and his passing is a big loss for the country and for the region. He was an example of what selfless determination to help others can achieve in this world.
Continuing Mergen's Legacy
Mergen's stated goal was to have at least one company from Mongolia reach a $1BN USD valuation by 2030.
In honor of this goal, Founder Institute Mongolia will select one extraordinary applicant per cohort to receive the 'Mergen Chuluun Fellowship'.
Anyone interested in applying can visit FI.co/join/mergen.
RIP, Mergen Chuluun
"Mergen is survived by his parents Chuluun Togtokh and Munkhtsetseg Natsagdorj; his wife, Soyol-Erdene Byambaa; his daughter, Oyun Mergen; his grandmother Tserenlkham Bavuu; his sisters, Misheel Chuluun and Gegee Chuluun; and his brothers, Altai Chuluun, Bilguun Chuluun, and Jimmy Chuluun; and stepmother Batkhishig Baldorj.
Mergen, 43, was an innovative change maker and connector with passion to make positive contributions to the world. His passions and expertise revolve around lifelong learning, leadership, entrepreneurship, innovation, and impact. He had a global network he can leverage to help others succeed in business and life.
At the time of his death, Mergen was focused on helping build the local startup ecosystem with a goal to have at least one company from Mongolia reach one billion USD in valuation by 2030. In 2021, Mergen brought the world’s largest pre-seed accelerator program (Founder Institute) and the world’s biggest startup pitch competition (Startup World Cup) to Mongolia. He was the Managing Partner of Exponential Venture Partners (XVP), the first international VC with Mongolia focus.
Apart from his startup endeavors, he was Independent Non-Executive Board Director at CU Mongolia; Chairman of the Board at REMAX ACE; Founder of Growth Summit Global; Founder and CEO of Togtokh Trade; Asia Ambassador of International Deal Gateway; Senior Advisor at STS Capital Partners; and Investor & Advisor at GER Organic Store.
Mergen is constantly seeking to bring global know how and network to Mongolia. He organized the biggest CEO summit, translated books by Peter F Drucker and Verne Harnish, and organizes leading edge scaling up and innovation master classes. He also founded the 1st internet marketing agency in 2011, was the 1st podcaster in Mongolia in 2010, and organized Blockchain Mongolia Meetups in 2018." - RE/MAX ACE:
