Supporting Incheon Startups' Global Expansion... Recruiting Participants for the 'Yujeontamsa Program'

Incheon Startup Park Panorama
Photo by Incheon Economic Promotion Agency

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority and Incheon Technopark are recruiting companies to participate in the 'Incheon Startup Park Oil Exploration Program,' which supports startups' global expansion, until the 15th of next month.

'Oil Exploration' was named as such because companies selected for the program can have opportunities to promote their services and products, discover sales and investors, just like exploring for oil in an oil field.

This program supports startups with costs related to global PoC (Proof of Concept: performance verification before introducing new technology to the market), individual exhibitions, demonstration resources, and participation in trade shows.

The recruitment targets are startups within 7 years of establishment that possess products or services in the fields of core 4th industrial revolution technologies, smart cities, non-face-to-face services, and bio-healthcare. Approximately 4 companies will be selected for the global PoC track, and about 10 companies for the individual exhibition track.

Eligibility for the global PoC track requires startups established within 7 years as of the announcement date, companies located in Incheon that have been selected for overseas PoC projects or open innovation projects by other institutions, or individual companies possessing overseas demonstration resources.

Additionally, eligibility for the individual exhibition track includes companies participating individually in startup-related events such as domestic and international exhibitions.

Selected companies in the global PoC track will receive project funding through agreements, while companies in the individual exhibition track will receive support for promotional costs related to domestic and international exhibition events.

An official from the Incheon Free Economic Zone Authority stated, "Through this project, we hope that promising startups can properly showcase their innovative technologies and expand into a wider global market."

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