Incheon Startup Park, Recruiting 30 Startups Specialized in Global Expansion

Incheon Startup Park Panorama [Photo by Incheon Economic Promotion Agency]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority and Incheon Technopark are recruiting startups to participate in the 'Boost Startup Program' support project until the 23rd of next month.

This program discovers and nurtures startups based on core technologies of the 4th industrial revolution and supports them from demonstration to investment and global expansion by linking with Incheon's specialized industries.

To this end, Incheon Startup Park, which officially opened last month in Songdo as the nation's first open innovation startup hub, will select 30 startups with global competitiveness through a public contest.

For these companies, an accelerating program will be conducted to support sales expansion, global localization such as contracts, intellectual property rights, office establishment, exports, strengthening investment attraction capabilities, and participation in demo days (events where prototypes and business models are presented to investors).

The eligibility for program application is startups established within 7 years under Article 2, Paragraphs 1 and 2 of the 'Small and Medium Enterprise Startup Support Act.' Detailed information can be found on the Incheon Startup Park website (www.startuppark.kr).

Meanwhile, startup specialized nurturing institutions (accelerators) to support these startups are also being recruited until the 12th of next month, planning to select five organizations specialized in core fields of the 4th industrial revolution such as smart cities, untact (non-face-to-face), and bio convergence.

In addition, the Incheon Free Economic Zone Authority is promoting a partner program to provide linked support for the Boost Startup Program and will offer various specialized field demonstration supports together with Incheon International Airport Corporation, Incheon Port Authority, Incheon Urban Corporation, VIVE Company, GS Caltex, and others.

Incheon Startup Park is a startup cluster space where innovators such as founders, investors, universities, and research institutes network in an open space through public-private collaboration. It also provides efficient development environments and demonstration support to startups through IoT (Internet of Things) test fields, AIoT (Artificial Intelligence of Things) demonstration support labs, and big data and artificial intelligence platforms.

An official from the Incheon Free Economic Zone Authority stated, "We will provide generous support so that Songdo, Incheon can become a foothold for domestic and international startups with global competitiveness to advance overseas," and added, "We look forward to many startups seeking global expansion to apply."

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