GIST Selected Consecutively for Ministry of SMEs and Startups Support Projects
Lead Organizations for Startup Leap Package and Preliminary Startup Package
[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju Institute of Science and Technology (President Kim Gi-seon·GIST) has been consecutively selected as the lead institution for the 2020 Ministry of SMEs and Startups Startup Leap Package and Preliminary Startup Package support projects.
According to GIST on the 20th, it has been selected as the lead institution for the Startup Leap Package for five consecutive years since 2016, and this year it has been allocated a total project budget of 6.45 billion KRW to support startup companies.
For the Preliminary Startup Package, GIST was selected as the lead institution in the specialized field (AI) and is scheduled to support preliminary startup companies with a total project budget of 2.47 billion KRW this year.
The Startup Leap Package support project is a commercialization support project aimed at producing results such as business advancement, market expansion, and innovative growth by helping startups in the leap phase (3-7 years) overcome the death valley and scale up.
In particular, GIST will collaborate with Microsoft in the newly established global linkage commercialization support project this year.
Therefore, for startups wishing to enter the global market, through a unicorn (unlisted startup with a corporate value of over 1 trillion KRW) nurturing program, GIST provides services necessary for startup growth by linking ▲ commercialization funds up to 300 million KRW ▲ R&D funds up to 400 million KRW ▲ education, consulting, and networking with global companies.
GIST is striving to support many leap-phase startups through the Startup Leap Package support project, and for efficient project execution, it has organized a dedicated team responsible for startup support, formed an investment organization and secured investment funds, and provides technology transfer, startup support spaces, and research equipment utilizing on-campus infrastructure.
The Preliminary Startup Package is a project that supports commercialization funds, startup education, mentoring, etc., to facilitate the smooth commercialization of preliminary entrepreneurs with innovative technology startup ideas.
Through evaluation of commercialization funds required for prototype production, intellectual property acquisition, marketing, etc., selected preliminary entrepreneurs are supported with an average of 51.65 million KRW and up to a maximum limit of 100 million KRW, and close support services are provided throughout the startup activities of preliminary entrepreneurs by designating startup and management experts as dedicated mentors through online and offline education.
In particular, GIST has been supporting the Preliminary Startup Package to nurture young and middle-aged preliminary entrepreneurs, starting with the 4th industrial field (AI) of the Preliminary Startup Package last year.
The Ministry of SMEs and Startups will support a total of 1,700 preliminary entrepreneurs this year, and GIST will support 40 preliminary entrepreneurs out of 600 in the specialized field.
Last year, the Preliminary Startup Package supported 28 companies in the youth field and 9 companies in the middle-aged field, and to ensure the successful startup of all startup companies, GIST has organized a dedicated team responsible for startup support, formed an investment organization and secured investment funds, and supports startups by utilizing technology transfer, startup support spaces, and startup clubs on campus.
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Giseong Geun, head of the GIST Enterprise Support Center, said, “GIST will faithfully perform the role of a startup support hub to provide customized support according to the growth stages of startups in the Gwangju and Jeonnam regions,” adding, “We will continue to actively support innovative startups in the region in connection with the Gwangju AI Cluster to lead the creation of quality jobs and revitalization of the regional economy.”
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