Gwangju City and Public Procurement Service Sign Business Agreement to Support Market Access for Startups and Venture Companies

Collaboration on Discovering Public Service Innovation Needs and Pilot Purchasing of Innovative Prototypes

On the morning of the 8th, Lee Yong-seop, Mayor of Gwangju Metropolitan City, took a commemorative photo with Kim Jung-woo, Administrator of the Public Procurement Service, after signing a business agreement in the city hall business room to expand the achievements of innovative procurement and support market access for startups and venture companies. Photo by Gwangju Metropolitan City

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City and the Public Procurement Service have joined hands to support local startup and venture companies.

On the 8th, Mayor Lee Yong-seop of Gwangju signed a business agreement with Kim Jung-woo, Administrator of the Public Procurement Service, at the city hall business room to “expand the achievements of innovative procurement and support market access for startups and venture companies.”

This agreement was prepared to spread innovative procurement policies within the region and to foster and support excellent startup and venture companies.

With the signing of the agreement, Gwangju City and the Public Procurement Service will mutually cooperate to ▲discover demand and support market access for public service innovation in the region ▲discover and purchase innovative products ▲support pilot purchases and demonstrations of innovative prototypes ▲discover excellent startup and venture company products.

Accordingly, the Public Procurement Service will provide information on innovative products through the comprehensive innovative procurement platform ‘Innovation Market,’ announce product designation for pilot purchases of innovative products and support demonstrations, operate innovative procurement competitions for discovering and awarding excellent cases, and conduct innovative procurement policy education.

In particular, for products recommended by Gwangju City, it will support technology and quality evaluations, review and designate venture startup procurement products, operate the exclusive product mall for startups and ventures ‘Venture Nara,’ and promote public procurement market entry and market access support for venture startup procurement products.

Additionally, Gwangju City will engage in discovering demand and supporting market access for regional public service innovation, discovering and purchasing regional innovative products, participating in and supporting demonstrations for the Public Procurement Service’s innovative product pilot purchase project, discovering and promoting excellent regional innovative procurement cases, participating in innovative procurement education, discovering and evaluating candidates for excellent regional startup and venture companies and venture startup procurement products, and promoting and purchasing regional venture startup procurement products to support market access.

Gwangju City expects to create initial demand for innovative products and support market access based on the purchasing power of administrative and public institutions, thereby inducing innovation and growth in the private sector.

Kim Jung-woo, Administrator of the Public Procurement Service, said, “We will promote innovative procurement policies that the public can feel to revitalize the regional economy through the Public Procurement Service’s innovative procurement projects,” and added, “We will continue to make efforts for cooperation and communication between the Public Procurement Service, local public institutions, and the procurement industry.”

Mayor Lee Yong-seop said, “I hope the Public Procurement Service will actively prepare various incentives and preferential measures such as regional quotas so that local startup and venture companies struggling due to COVID-19 can enter the public procurement market and enhance their competitiveness,” and added, “Gwangju City will also actively discover and purchase innovative products and support innovative companies to overcome difficult conditions and achieve sustainable growth and development.”

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