Gyeonggi Economic Science Institute to Provide Up to 120 Million Won Support for Data Industry Development

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will support up to 120 million KRW per project to foster data industries such as artificial intelligence (AI).

The Gyeonggi Economic Science Promotion Agency announced on the 21st that it will implement a data industry promotion support project to revitalize core data industries such as artificial intelligence (AI), 5th generation mobile communication (5G), and the Internet of Things (IoT), which represent the 4th Industrial Revolution.

The support targets small and medium-sized enterprises and startups with headquarters or research institutes located in the province. They can participate by forming a consortium with universities and research institutes in the province.

The province will recruit participating companies from the 22nd of this month until the 10th of next month, and applications can be submitted via email or mail.

Through evaluation, 2 to 3 projects will be selected, and each project will receive support ranging from a minimum of 80 million KRW to a maximum of 120 million KRW for costs necessary to conduct research and commercialization such as data analysis and consulting, new business creation, as well as costs required for project activities such as discovering, refining, and purchasing private data.

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