Gyeonggi-do Announces 'Five-Year Plan for Revitalizing Tech Startups'... Focus on 5 Key Areas

Startup, Investment, Growth & Global, Exit & Rechallenge, Infrastructure Expansion, etc.

[Asia Economy Reporter La Young-cheol] Gyeonggi Province will support 15,000 startup companies and nurture 9,000 talents in the 4th industrial sector over five years from this year to 2025.

On the 2nd, Gyeonggi Province established and announced the "1st Gyeonggi Province Technology Startup Support Comprehensive Plan (2021~2025)" with these goals.

The province plans to focus on five major policy tasks across five areas?startup, investment, growth & global, recovery & re-challenge, and infrastructure expansion?considering the startup cycle step-by-step, and promote them intensively over five years.

In the startup sector, under the strategy of "activating innovative startups centered on cutting-edge convergence technology," it will support Gyeonggi startup contests, university student convergence technology startups, technology startup support programs, and technology transfer startup support.

In the investment sector, it will promote the activation of startup investment through private investment-linked technology startup support, crowdfunding-linked startup support, startup platform-linked technology startup support, and angel funds.

In the growth & global sector, key tasks include supporting startups to overcome the startup death valley, university startup support linked to region-specific specialized industries, designation and operation of venture company cluster facilities, and fostering global startups utilizing the Creative Economy Innovation Center.

In the recovery & re-challenge sector, it will help promote reinvestment and re-startup activation, support fair mergers and acquisitions of Gyeonggi startups, support re-challenge entrepreneurs, and assist successful recovery of startup companies through the Gyeonggi Re-challenge Fund.

Additionally, it will integrate startup information centered on the online Gyeonggi Startup Platform, promote public-private cooperative startup activation through real-time interactive communication, and create a system that regionalizes and links offline startup support facilities by turning the Startup Campus into a startup hub.

Through this, the province plans to stably provide affordable startup spaces to startup companies by utilizing scattered startup support facilities within the province such as the Gyeonggi Venture Startup Support Centers (15 locations), Startup Incubation Centers (47 locations), Ansan Station-G, Startup Labs, and prototype production centers.

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