Incheon TP Provides Close Support to 31 Promising Startups... Up to 300 Million KRW in Commercialization Funds

[Asia Economy Reporter Park Hyesook] Incheon Technopark (Incheon TP) announced on the 8th that it will closely support 31 startup companies with high potential for innovative growth.

Incheon TP selected 31 companies through the 'Startup Leap Package Commercialization Support' contest in collaboration with the Ministry of SMEs and Startups, the Korea Institute of Startup & Entrepreneurship Development, and Incheon City. A total of 141 companies applied, resulting in a competition rate of 4.5 to 1.

The selected companies are in the startup leap phase, having been established for 3 to 7 years. Incheon TP plans to support their growth by providing up to 300 million KRW in commercialization funds per company. It will also offer education, mentoring, investment attraction, and overseas expansion programs.

An Incheon TP official stated, "We plan to help rookie companies in the startup leap phase overcome difficult times (the valley of death) and take a step forward," adding, "We will actively support them to achieve growth such as increased sales."

Previously, Incheon TP supported 37 companies last year, leading to investment attraction worth 31.9 billion KRW, and since 2010, it has helped the growth of a total of 384 companies through this project.

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