Incheon Port Authority Provides 20 Million KRW in Item Development Funds to Re-Entrepreneurs

Incheon Port Authority

[Asia Economy Reporter Park Hyesook] Incheon Port Authority supports companies preparing for re-startups.

The authority announced on the 19th that it will support and nurture re-entrepreneurs who have excellent technology and know-how but failed to seize market opportunities and are preparing to start up again by launching the 'Once Again at Incheon Port' support project.

Through the public offering, the authority will select three companies and provide each with 20 million KRW for one year to cover costs for hiring new personnel and developing startup items. It will also offer professional mentoring utilizing internal human resources of Incheon Port Authority, Incheon National University Startup Studio, and startup company networking programs.

In particular, starting this year, additional evaluation points will be given to startups in the 4th industrial revolution and non-face-to-face sectors, focusing on discovering and nurturing new technology startups that can lead the post-COVID era.

The 'Once Again at Incheon Port' project is a port-specialized venture startup support program promoted by the authority since 2017, and so far, it has selected 12 startup companies and supported prototype development costs, labor costs, and more.

Participating companies have achieved sales growth and job creation. Among them, last year's supported company, Hanguk Dosijaesaeng Gisul Co., Ltd., signed technology cooperation and production contracts with two related institutions in China and completed patent applications for proprietary technology.

Additionally, Honeybee Co., Ltd. established a content development work process and expanded its client base from 15 to 25 companies.

Details of this year's support project can be found on the Incheon National University Startup Support Group website (inustartup.or.kr) until the 24th.

An Gilsup, Head of Social Value at Incheon Port Authority, stated, "We will actively utilize the resources held by the authority to continue joint efforts with new startup companies," adding, "We will strive to create a startup ecosystem in the Incheon area through the operation of the startup support program."

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