Iljin Group, Fostering Startups in Materials, Components, and Equipment

Joint Startup Discovery Project with the Research and Development Special Zone Promotion Foundation

Iljin Group 'Unicathon Project' poster.
Photo by Iljin Group

[Asia Economy Reporter Kim Jong-hwa] Iljin Group announced on the 7th that it will promote the 'Unicorn Project' to discover and nurture startups in the K-materials, parts, and equipment sectors in collaboration with the Research and Development Special Zone Promotion Foundation (Chairman Yang Sung-kwang).

This project is a startup discovery initiative aimed at nurturing startups to grow into unicorn companies by transferring Iljin Group's know-how in materials, parts, and equipment.

Applications are open until the 16th for key startup companies such as those participating in the Small and Strong Research and Development Special Zone, InnoPolis Campus participants, research institute companies, and R&D startups. Details on the application process and schedule can be found on the Research and Development Special Zone Promotion Foundation's website.

Startups selected as outstanding companies among the applicants will receive Iljin Group's accumulated know-how in nurturing materials, parts, and equipment, basic seed investment, and research and development support.

Iljin Group, a leading materials and parts company in Korea, will have major affiliates such as Iljin Electric, Iljin Materials, Iljin Steel, Iljin Diamond, and Iljin Display participate in nurturing and support for this project.

Won Yong-chul, head of Iljin Group's Future Business Team, said, "Iljin Group is ready to build new business areas together with startups that have excellent technology and potential," adding, "We will actively support joint ventures, joint research and development, and joint patent applications for companies that can link with Iljin Group affiliates and business models."

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