Incheon Free Economic Zone Authority Launches Recruitment for 'Startup Park' Tenants... Initiates Unicorn Company Development

Recruiting 30 Companies for the 'Boost Startup Journey' Program

Songdo International City Tomorrow City, where Incheon Startup Park is being developed

[Asia Economy Reporter Park Hyesook] As the 'Incheon Startup Park,' an open innovation startup hub, is set to officially open by the end of this year, the Incheon Free Economic Zone Authority has taken a full-scale step toward fostering unicorn companies by starting to recruit resident companies.

The Incheon Free Economic Zone Authority, together with Incheon Technopark, is recruiting resident companies for the Incheon Startup Park to participate in the 'Boost StartUp Journey' program until July 3rd.

The Boost StartUp Journey is a program that discovers and nurtures startups based on Fourth Industrial Revolution technologies, linking them with Incheon’s specialized industries, and supports them from demonstration to investment and global expansion. Selected startup companies will receive acceleration programs such as sales expansion, investment attraction capability enhancement, mentoring, and networking from specialized nurturing institutions.

Previously, the Incheon Free Economic Zone Authority selected six specialized nurturing institutions, including the Incheon Center for Creative Economy and Innovation, focusing on key Fourth Industrial Revolution fields such as smart cities, untact (contactless), and bio convergence, to support these startups.

Eligibility for the Boost StartUp Journey program requires the startup to be a company established under the 'Small and Medium Enterprise Startup Support Act' with less than seven years of operation as of the initial announcement date (June 17). For more details, please refer to the Incheon Startup Park website (http://startuppark.kr).

The Incheon Free Economic Zone Authority is also preparing various nurturing programs within the Startup Park, including startup product development support and university-linked scale-up programs related to the Boost StartUp Journey.

Meanwhile, the Incheon Startup Park, established in Tomorrow City, Songdo International City, to build an open innovation startup hub, consists of ▲ Startup Tower I, which operates private-sector-led nurturing programs and serves as a space where startups and ventures exchange ideas and conduct research ▲ Startup Tower II, which provides programs from related companies and institutions to exclusively nurture public-led innovative ideas ▲ and Healing Tower, which offers convenience facilities and collaborative shared spaces.

The Startup Park project, which is a key initiative promoted by the Ministry of SMEs and Startups, aims to establish open innovation startup hubs similar to Silicon Valley in the United States, Zhongguancun in China, and Station F in France.

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