Busan City Selects and Supports 10 Promising Startups ... Up to 50 Million KRW Funding

Busan City Hall

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Jonghyo] Busan City announced on the 19th that it will implement the '2020 Ace Stella Development Support Project' to nurture competitive startups leading the 4th industrial revolution into global star companies.

This project supports research and development (R&D) and commercialization for promising startups that have been established for more than three years.

Eligible applicants are startups with headquarters in Busan that have been established for more than three years but less than seven years. They must meet requirements such as investment attraction type, growth type, employment creation type, export type, and technological innovation type, and will be selected through requirement screening presentations and on-site evaluations. This year, the city plans to select around 10 companies with high growth potential in various fields such as technological capability and export capability for focused support.

Selected Ace Stella companies can receive up to 50 million KRW per company in areas such as R&D investment, quality and testing certification, equipment usage, marketing, and growth strategy consulting.

Companies wishing to participate can submit their application forms and related documents in person or by mail to the Regional Industry Promotion Office of Busan Technopark by the 25th of this month. Detailed information can be found on the Busan City website or the Busan Technopark website.

A Busan City official stated, "We will continue to provide focused support so that excellent startups that have overcome the difficulties of the first three years of establishment and have high growth potential can leap to the next growth stage."

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