Martial Arts, Full-Scale Promotion of 'BMW Testbed'... "Recruitment Until the 12th of Next Month"
[Asia Economy Reporter Jeong Hyunjin] The Korea International Trade Association (KITA) announced on the 30th that it is recruiting startups to participate in the 'BMW Testbed with Korean Innovation' program, jointly promoted with BMW Group Korea on the 31st.
This program is an open innovation initiative that provides domestic startups with opportunities for Proof of Concept (PoC) and supports them in exploring commercialization linkage with BMW Group Korea, business expansion, and global market entry possibilities based on these opportunities.
Applications are open until the 12th of next month and can be submitted through KITA's open innovation platform, InnovBranch. The recruitment fields include six categories: ▲ test vehicle management and monitoring solutions ▲ big data analysis solutions ▲ brand & marketing solutions ▲ 'myBMW' application simulation test programs ▲ internal business process management solutions ▲ and other collaborative free proposals.
After the application period ends, meetings with BMW Group Korea will be held from the end of next month to early October, followed by preliminary PoC from October to mid-November, and a final demo day at the end of November, where five startups will be selected. Selected startups will receive 10 million KRW in PoC funding, additional points when applying for KITA's startup vouchers, priority matching with overseas large corporations, direct and indirect investment reviews and incubation space support from the Gyeonggi Center for Creative Economy & Innovation, and investment reviews from FuturePlay, among various follow-up supports.
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Park Piljae, Head of the Startup Global Support Office at KITA, said, "This program offers domestic innovative startups not only an opportunity to expand sales but also a good stepping stone for overseas expansion, as it provides direct commercialization cooperation opportunities with the Korean branches of global large corporations. We look forward to many innovative startups taking on this challenge."
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