Eunpyeong-gu to Foster Local Unicorn Companies

Eunpyeong Startup Support Center Recruiting 2nd Cohort Companies

Applications open until the 31st... Free startup space support for up to 3 years

Preference given to AI, ICT, life health, and eco-friendly companies

Eunpyeong-gu (Mayor Kim Mi-kyung) announced that it is recruiting the 2nd cohort of early-stage startups to move into the ‘Eunpyeong Startup Support Center’ until the 31st of this month.

The ‘Eunpyeong Startup Support Center’ is a facility established by the district to provide office space to startup companies and support startups tailored to the characteristics of the region. It has been operated under consignment by the Kookmin University Industry-Academic Cooperation Foundation since January this year.

The available spaces for the 2nd cohort include one single room, two double rooms, and one four-person room. The residency period is six months from September this year to February next year, with the possibility of extension up to three years through a renewal review.

Rent is free, and consumables management fees are 10,000 KRW per person per month. Resident companies are provided with basic office equipment such as internet, wired telephone, and personal lockers, along with startup mentoring and educational support.

Eligible applicants are prospective entrepreneurs or companies less than seven years old located in Eunpyeong-gu. Startups from other regions can apply on the condition that they relocate their business address to the Eunpyeong Startup Support Center. Preference is given to companies in AI (Artificial Intelligence), ICT (Information and Communication Technology), life health, and eco-friendly sectors. Businesses excluded from support under the Small and Medium Enterprise Startup Support Act, such as finance, insurance, real estate, and lodging, are not eligible.

Interested companies should apply via email by the 31st. Applicants will be selected through document and presentation evaluations assessing business purpose, technology, business feasibility, and management capability. Results will be announced on the 11th of next month, and successful applicants can move in starting September 1st this year. Application forms and details are available on the Eunpyeong-gu or Eunpyeong Startup Support Center websites.

Currently, a total of 11 companies from the 1st cohort are residing at the Eunpyeong Startup Support Center. These companies have received close counseling and mentoring programs and secured a total of 486 million KRW in commercialization funds through the ‘2023 Government Startup Support Program.’ The center plans to promote various programs in the second half of this year to help startups expand, including a ‘Startup Competition,’ ‘IR Academy,’ and ‘Showcase (Exhibition) Competition.’

Kim Mi-kyung, Mayor of Eunpyeong-gu, said, “Since the Startup Support Center first opened, we have achieved results such as securing government funding within just six months,” and added, “We hope to build strong relationships with excellent companies in the 2nd cohort and see unicorn companies representing the region emerge.”

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