Busan City Holds Opening Ceremony for 'Public-Private Joint Coworking Space'
[Asia Economy Yeongnam Reporting Headquarters, Trainee Reporter Hwang Du-yeol] On the 28th at 11 a.m., Busan City held the ‘Busan Public-Private Joint Collaboration Space (BIGS) Opening Ceremony’ with seven organizations including the Korea Securities Depository.
The event was attended by Kim Yoon-il, Deputy Mayor for Economic Affairs of Busan City, Lee Myung-ho, President of the Korea Securities Depository, representatives from collaborating organizations, and resident company representatives.
The ceremony proceeded in the order of plaque unveiling, progress report, commemorative ceremony, and corporate meeting.
The Busan Public-Private Joint Coworking Space (BIGS, Busan Innovation Ground for Startups) is a project involving Busan City and seven organizations to create an innovative startup ecosystem by combining space, networks, and investment.
The roles of each organization are as follows: ▲ Busan City overall management ▲ Korea Securities Depository support for space operation costs ▲ Busan Port Authority, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Housing Finance Corporation support startup program project costs ▲ Korea Technology Finance Corporation investment, technology guarantee support, and non-financial support ▲ BNK Financial Group fund investment and loan support to serve as a customized growth support platform for startups ▲ Busan Economic Promotion Agency BIGS operation, etc.
BIGS supports innovative startups with 40 resident spaces and customized accelerating programs funded by jointly contributed funds.
The first cohort of BIGS to receive support consists of 38 companies selected from kCamp and B Startup Challenge.
Among the selected companies, those wishing to move in will be provided with free residency for six months, and programs such as business model advancement, commercialization support, and investment linkage through company diagnosis will be offered.
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Kim Yoon-il, Deputy Mayor for Economic Affairs of Busan City, said, “We will strive to nurture innovative startups through continuous and systematic support via public-private cooperation.”
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