KEPCO "Nurtured 302 Energy Startups Over 4 Years"

Non-face-to-face Agreement Ceremony with 42 Startups Selected in 2020

[Asia Economy Reporter Moon Chaeseok] The Bitgaram Innovation Center operated by Korea Electric Power Corporation (KEPCO) announced on the 10th that it signed a non-face-to-face online business agreement with the Korea Electrical Industry Promotion Association at the Naju Innovation City Energy Valley Corporate Development Center.

According to KEPCO, the center was established on February 8, 2017, as the first public enterprise to open such a facility, discovering and nurturing 302 startups. It achieved KRW 307.9 billion in sales, attracted KRW 55 billion in investment, and created 623 jobs.

This time, 42 companies were finally selected. The center plans to support these 42 companies by providing ▲ up to KRW 200 million in funding per company over two years ▲ office space within the center and access to KEPCO's demonstration test center ▲ utilization of KEPCO's patented technologies and technical mentoring by field.

Subsequently, it will continue with KEPCO's win-win growth programs, connections with investment institutions, and collaboration with startup-related organizations. It will also strive to develop sales channels by utilizing the Bitgaram International Electric Power Technology Expo (BIXPO) export consultation, energy technology market, and online export product hall.

A KEPCO official stated, "We plan to support the commercialization of ideas that require long-term research and the industrial linkage process, and to create a sustainable ecosystem where startups can collaborate with Energy Valley companies."

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