InnoBiz Association, Recruiting Companies for 'Korea-Russia Innovation Platform Project' Participation

[Asia Economy Reporter Kim Daeseop] The Korea Small and Medium Business Technology Innovation Association (InnoBiz Association) announced on the 2nd that it is recruiting participating companies for the 'Korea-Russia Innovation Platform Project.'

This project is designed to support innovative startup companies wishing to enter the Russian market by facilitating overseas expansion and localization of startup items. Applications are open until the 23rd.

The association will evaluate participating companies and, starting from July this year, conduct 'Korea-Russia Business Consultations and Accelerating' locally in Russia. In October, it plans to hold a 'Startup Summit' in conjunction with the Open Innovation event held at Skolkovo in Russia, aiming to foster networking between startups and investors from both countries.

Additionally, the association will select domestic startups and innovative companies (with about 7 years of business experience) mainly in fields such as artificial intelligence (AI) and robotics, and conduct a comprehensive evaluation of their potential for local market entry. The five companies finally selected will receive up to 20 million KRW per company after accelerating at the Skolkovo Innovation Center in Moscow, Russia.

Cho Hongrae, president of the InnoBiz Association, stated, "As this year marks the 30th anniversary of diplomatic relations between Korea and Russia, we will do our best to strengthen competitiveness through stable local market entry and technology exchange for domestic companies based on cooperation with local Russian institutions."

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