Jungjingong, Three Companies Finally Selected as 'Gangwon Next Unicorn'

Competition Ratio 27 to 1... 81 Companies Compete for Selection of 3 Companies

On the 22nd, the final selection announcement for the Gangwon Next Unicorn Project is taking place at the Ansan Youth Startup Academy in Gyeonggi.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 23rd that it held the final round of the 'Gangwon Next Unicorn Project' on the 22nd at the Ansan Youth Startup Academy in Gyeonggi Province (hereinafter Youth Startup Academy) and finally selected three Youth Startup Academy graduate companies as support targets.

The Gangwon Next Unicorns selected were Bluemotion Tech (CEO Lee Gil-young), a company developing ultra-precision stages for semiconductors and displays; Dongnam Megatech (CEO Park Nak-je), a manufacturer of printed circuit boards for IT products such as smartphones; and Jinslab (CEO Jang Wook-jin), which produces virus diagnostic kits.

The three companies finally selected will receive benefits such as ▲up to 1 billion KRW in support funds per company (funded by Kangwon Land) ▲policy funds and investment/loan linkage support (SBC) ▲preferential support for alternative industry loans in mining area promotion districts and linkage to urban regeneration project businesses (Korea Mine Reclamation Corporation) ▲linkage to win-win programs (Foundation for Large, Small and Medium Enterprises and Agriculture and Fisheries Cooperation).

The Gangwon Next Unicorn Project is a collaboration between SBC, Kangwon Land, Korea Mine Reclamation Corporation, and the Foundation for Large, Small and Medium Enterprises and Agriculture and Fisheries Cooperation to support the relocation of Youth Startup Academy graduate companies with high technological performance and future growth potential to the mining areas of Gangwon Province. From 2019 to 2025, over seven years, three companies will be selected each year, totaling 21 companies, and up to 1 billion KRW in relocation funds will be provided.

This year, 81 Youth Startup Academy graduate companies applied for the Gangwon Next Unicorn Project, recording a competition rate of 27 to 1. Among them, 10 companies that passed the first document screening and the second presentation screening advanced to the final candidates. Notably, to prevent the spread of COVID-19 infection, the number of participants was minimized, and the process was conducted via online live streaming. Additionally, considering transparency and fairness, about 30 members of the public participation group directly participated in the evaluation.

In May, SBC was recognized for its contribution to discovering new regional growth engines and creating quality jobs through the Gangwon Next Unicorn Project and received the National Balanced Development Award from the National Balanced Development Committee. It was also selected as an excellent case in the 2020 Active Administration Best Practices Competition jointly hosted by the Ministry of Personnel Management, the Office for Government Policy Coordination, and the Ministry of the Interior and Safety.

Kim Hak-do, Chairman of SBC, said, "This year, as in the previous year, we confirmed the high interest of startups in the Gangwon Next Unicorn Project," adding, "SBC, together with related organizations, will actively support Youth Startup Academy graduate companies with technological capabilities and a spirit of challenge to revitalize the economy of the Gangwon mining areas and to coexist and grow sustainably with the region."

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