Incheon TP fosters promising startups in non-face-to-face sectors... Up to 150 million KRW in commercialization funds

Incheon Startup Park

[Asia Economy Reporter Park Hyesook] Incheon Technopark (Incheon TP) is recruiting startup companies to participate in the 'Non-face-to-face Startup Incubation Project' until the 25th.

This project aims to discover and support promising startups in the non-face-to-face sector leading the post-COVID-19 era. This year, 45 billion KRW will be invested to support 300 prospective entrepreneurs or startup companies nationwide.

The project involves 12 government ministries, including the Ministry of SMEs and Startups and the Ministry of Science and ICT.

Incheon TP, in collaboration with the Ministry of SMEs and Startups, will select and nurture around 20 startup companies in the Eureka (innovative startup items) sector. Companies utilizing new non-face-to-face related technologies such as metaverse general-purpose technologies (XR devices, metaverse platforms) and remote cloud services will be given preferential evaluation during selection.

Selected companies will receive commercialization funds (up to 150 million KRW) for prototype production and marketing, along with specialized programs to assist in market development such as space, equipment, research and development (R&D), demonstration, certification, investment attraction, and overseas expansion.

Incheon TP plans to utilize the demonstration resources and cooperation partners of Incheon Startup Park, the nation's first public-private cooperative startup cluster and the largest startup support space in Korea, which it operates jointly with the Incheon Free Economic Zone Authority, to support companies.

Applications can be submitted through the startup portal K-Startup. For more details, visit the K-Startup website or contact the Incheon TP Startup Park Center.

An Incheon TP official stated, "This project aims to nurture promising domestic non-face-to-face startups into innovative companies leading the global digital economy," adding, "Final supported companies will be selected through document and presentation evaluations."

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