Gwangju University Selected as Lead Institution for Ministry of SMEs and Startups' Early Startup Support Project

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju University (President Kim Hyuk-jong) announced on the 18th that it has been finally selected as the lead institution for the Ministry of SMEs and Startups' '2020 Early Startup Package Support Project.'

With this project selection, Gwangju University will receive up to 7.5 billion KRW over three years, 2.5 billion KRW annually until 2022, to discover early-stage entrepreneurs and items, and support startup activities.

The Early Startup Package Support Project supports the growth and stabilization of startups within three years of establishment by utilizing the excellent startup support infrastructure of the lead institution. This year, 40 institutions nationwide were selected.

Gwangju University plans to support selected entrepreneurs with up to 100 million KRW within 70% of the total project cost for prototype development and marketing expenses.

Choi Wan-seok, head of Gwangju University's Startup Support Group, said, "With this project selection, we will accelerate the promotion of existing startup-leading university development projects and projects for early-stage entrepreneurs," adding, "We will do our best to serve as a regional base university for industrial development and startup activation not only in Gwangju and Jeonnam but also in the Jeonbuk region."

This content was produced with the assistance of AI translation services.