Supporting Maritime and Port Startups... Busan Port Authority Launches Full Operation of ‘1876 BUSAN’
[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) will open applications for the second round of resident companies for ‘1876 BUSAN,’ a startup support platform in the shipping, port, and logistics sectors, starting from the 28th, and will begin full-scale operations.
1876 BUSAN is a startup support platform established to revitalize startups in the shipping, port, and logistics sectors.
The platform is jointly operated by BPA, Busan Metropolitan City, Korea Ocean Business Corporation, and the Korea Startup Forum.
During about six months of pilot operation, 1876 BUSAN has provided multifaceted support including space, funding, consulting, and technology development to five resident companies in the shipping, port, and logistics sectors.
BPA plans to establish an improved operation plan reflecting pilot operation data and feedback from resident companies, start official operations, and recruit the second round of residents to nurture up to five additional startups related to shipping, port, and logistics.
They plan to maximize business efficiency by linking with external startup support projects such as those from the central government, collaborating with private accelerator specialized companies, and expanding support programs including investment attraction.
The eligibility for residency and support at 1876 BUSAN includes prospective entrepreneurs and small and medium enterprises (SMEs) less than seven years since establishment in the shipping, port, and logistics sectors, who will be evaluated and sign residency contracts for up to two years.
The application period for residency is from the 28th until August 10, and applicants must submit common and additional documents specified in the residency announcement to the Busan Port Authority reception email.
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Kang Jun-seok, President of BPA, said, “By activating the 1876 BUSAN platform, we will secure sustainable smart technologies in the shipping and port sectors, realize a venture ecosystem, create new jobs, and secure future growth engines for Busan Port and the regional economy.”
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