Gwangju Innovation Promotion Committee Recommends Establishing Startup and Venture Cluster

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] The Gwangju Innovation Promotion Committee (Chairman Ju Jeong-min), directly under the Mayor of Gwangju Metropolitan City, finalized the ‘Creation of an Innovation and Challenge Startup·Venture Cluster’ through the 17th plenary meeting and expert consultation, and will recommend it to Gwangju Metropolitan City on the 29th.

This innovation recommendation is the nineteenth since the Innovation Promotion Committee was launched as an advisory body directly under the mayor on November 27, 2018, following recommendations and proposals on public institution innovation, revitalization of municipal art groups, smart manufacturing innovation, establishment of the Gwangju welfare model, redefinition of Gwangju urban policy, establishment of an industrial policy platform, innovation of private cultural and artistic operating subsidies, low birthrate countermeasures, and normalization of the Eodeungsan tourism complex development.

The Innovation Promotion Committee stated, “Gwangju City chose artificial intelligence to innovate the growth foundation of its poor economic and industrial structure with a GRDP scale of 39.8 trillion won, which is 2.1% of the national total,” and added, “For the city’s AI policy to achieve its intended results, disruptive innovation that activates startups and ventures, rather than gradual innovation, is necessary.”

Accordingly, the Innovation Promotion Committee recommended 27 innovation tasks under three basic directions aimed at ‘Creating an Innovation and Challenge Startup·Venture Cluster’: ▲ Establishing and implementing systematic startup and venture nurturing strategies by stage and target ▲ Creating a function-centered Gwangju-type startup and venture cluster ▲ Preparing a customized integrated support system for each startup and venture stage.

The Innovation Promotion Committee plans to continuously monitor to ensure that the innovation recommendations and proposals delivered to the city are reflected in city administration through measures such as requiring the city, which received the 12th administrative innovation recommendation, to prepare and report detailed implementation plans within three months, and managing the implementation status with a management card system.

Ju Jeong-min, Chairman of the Gwangju Innovation Promotion Committee, said, “Gwangju City proactively chose artificial intelligence to respond to the Fourth Industrial Revolution era, and the activation of startups and ventures is very important for this policy to achieve its intended results,” adding, “We will continue to work with the Innovation Promotion Committee members so that Gwangju City can timely respond to changes in government policies such as the Korean New Deal.”

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