Kangwon Land Announces Startup Contest for Open Innovation Collaboration

Applications Open Until the 24th for Companies Within 7 Years of Holding Innovative Technology
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Kangwon Land announced on the 7th that it will publicly recruit startup partners to participate in open innovation. Open innovation is a method where companies procure the technologies and ideas they need from external sources and share internal resources with outsiders to create new products and services.

The target participants are startups within 7 years that possess innovative technologies. They must have verifiable innovative technologies in the casino and resort business sectors or hold innovative platforms to strengthen coexistence with the local community. Startups wishing to participate can submit their application forms and participation proposals through 'K-Testbed' by the 24th.

K-Testbed, led by the Ministry of Economy and Finance, is a national integrated platform that opens public and private institution infrastructures to startups and small and medium venture businesses across all domestic industries, supporting the verification of ideas and technologies held by companies and the development of sales channels.

After document and face-to-face evaluations, two collaborative companies will be finally selected and given opportunities to jointly develop products with Kangwon Land and review new business ventures. They will also receive a 6-month proof of concept (PoC) opportunity and support funds of 20 million KRW.

Kangwon Land stated, "We will continuously promote open innovation and plan to consider equity investments in outstanding companies in the future."

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