Gyeonggi Economic Science Institute Provides Up to 10 Million KRW Support for Upcycling Startups

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi-do Economic Science Promotion Agency is recruiting preliminary and early-stage startups in the upcycle field to participate in the '2020 Upcycle Emergency (非常) Project' until the 25th.

The Upcycle Emergency (非常) Project is a representative startup support project promoted by Gyeonggi-do to foster the upcycle industry. Upcycle refers to the process of rebirthing waste resources into high-value products by adding design or usability.

If selected as a project participant, up to 10 million KRW in commercialization funds will be provided. Participants must bear at least 20% of the total project cost as matching funds.

The commercialization funds can be used for intellectual property application, registration, analysis, certification fees, promotion and marketing expenses, prototype production costs, and more.

Eligibility includes preliminary entrepreneurs in the upcycle field who can start a business located in Gyeonggi-do, and early-stage startups registered for less than three years located in Gyeonggi-do.

Applications can be submitted online by visiting the EGBiz website (www.egbiz.or.kr).

Kim Ki-jun, Director of the Gyeonggi Economic Science Agency, said, "We hope for active participation from capable preliminary and early-stage entrepreneurs who will lead the upcycle industry, which is growing into a high value-added industry," and emphasized, "The Gyeonggi Economic Science Agency will do its best to discover and nurture excellent upcycle startups so that Gyeonggi-do becomes a hub for the upcycle industry."

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