Seoul City Opens Recruitment for Resident Companies at 'M+ Center,' a Startup Incubation Space Focused on Magok R&D

A Research Space for Win-Win Cooperation Between Large and Small-Medium Enterprises Near Magok Station, from Basement Level 4 to Ground Level 8
Up to 2 Years Residency... Open Innovation, Investment Attraction, and Corporate Support Programs for Large and Small-Medium Enterprises Provided

[Asia Economy Reporter Lim Cheol-young] The startup incubation space, ‘Mplus (M+) Center,’ is opening. The Mplus Center is an R&D research space supporting the convergence ecosystem of large and medium-sized enterprises and startups located in Magok, as well as a growth space for startups, ventures, and small and medium-sized enterprises.

On the 27th, the Seoul Metropolitan Government and the Seoul Business Agency (SBA) announced that they will establish a center in the Magok Industrial Complex, Gangseo-gu, Seoul, spanning from four basement floors to eight above ground, and will open it in November. The center will include 75 individual offices and spaces for resident companies such as open and independent meeting and lounge areas. It will also feature partner collaboration spaces like studios and small meeting rooms, 60 shared office seats, and an Innovation Hall with 40 seats for internal and external collaboration.

Prior to the opening, the Seoul Metropolitan Government and the Seoul Business Agency (SBA) are recruiting resident companies for the center. Any company that meets the resident industry requirements according to the Magok General Industrial Complex Management Basic Plan, has been established for less than seven years, and is a prospective entrepreneur who can register a business before signing the residency contract is eligible to apply.

A total of about 35 companies will be selected through two tracks: the Magok Industrial Complex company recommendation track and the investment institution and company recommendation track. Resident companies will receive independent office space, convenience facilities, and customized scale-up program support for up to two years.

Applications can be submitted online via the Seoul Startup Plus platform from the 31st until June 25th. After document and face-to-face evaluations, the final selected resident companies will be announced in early August, with residency starting in October.

Seo Byung-chul, Director of the Seoul Metropolitan Government’s Southwest Area Project Division, said, “The center is a space where venture and startup companies with innovative ideas and technologies can freely research and grow,” adding, “We will create a creative innovation ecosystem by providing a research space where strong small and medium enterprises and startups can collaborate on R&D with large and medium-sized enterprises within the Magok Industrial Complex.”

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