'Gwanak S Valley Seoul National University Campustown' Residency Competition Rate Exceeds 5 to 1...

68% (34 teams) of 50 Resident Companies Relocated from Other Areas like Gangnam and Pangyo... Nationwide High Interest Shown
Strong Advantages in Collaboration with Seoul National University R&D and Easy Access to Excellent Talent... Many High Value-Added Technology Companies Settled In

Gwanak-gu (District Mayor Park Jun-hee) has newly welcomed 50 (preliminary) startup companies after fierce competition in the ‘Gwanak S-Valley Seoul National University Campustown’ project, which is a key initiative.

The ‘Gwanak S-Valley Seoul National University Campustown Project,’ jointly promoted by the district and Seoul National University, is a program designed to support prospective and early-stage youth startups by utilizing the university’s ▲human ▲material ▲intellectual resources.

Last year, the district was consecutively selected for the ‘Seoul City Campustown Project’ and will receive up to 4.5 billion KRW annually from Seoul City for three years starting in 2024. This is significant as it recognizes the growth potential of Gwanak S-Valley, which has been promoted since 2018.

To promote the newly launched ‘Seoul City Campustown 6th Phase Project’ starting in 2024, the district recruited resident companies last year. As a result, 244 teams applied for 50 spots, showing a high competition rate of 5 to 1.

Notably, among the 50 final selected teams, there are many companies with high value-added excellent technologies, including ▲a company developing navigation systems using artificial intelligence (AI) ▲a company developing automatic design software for robots and mechanical devices ▲a company developing cancer treatment technologies, raising expectations for their future growth into global unicorn companies.

Additionally, the selection process saw a significant influx of companies whose previous locations were outside the district, confirming the high interest of venture and startup companies in Gwanak S-Valley.

Companies relocating within the region accounted for 16 teams, or 32%, while those moving from outside the district totaled 34 teams, or 68%. Specifically, the largest number of relocations came from ‘other autonomous districts within Seoul,’ including Gangnam-gu, with 19 teams (38%). Furthermore, many companies also relocated from other cities and provinces such as ▲Pangyo ▲Incheon ▲Daejeon ▲Daegu ▲Busan.

This is considered a result of venture and startup companies recognizing the growth potential of Gwanak S-Valley, which has the great advantage of being linked to Seoul National University, known for holding numerous domestic and international patents, and its R&D capabilities.

Going forward, the district and Seoul National University plan to provide tailored support to Gwanak S-Valley resident companies according to their growth stages. For ‘early-stage companies,’ they will match them with Seoul National University research institutes and industry-academic cooperation professors to support solving technical issues. For ‘growth companies,’ they will offer opportunities for global expansion and consulting for corporate listing to actively nurture them into global deep-tech companies.

Meanwhile, since 2018, the district has been focusing on the ‘Gwanak S-Valley’ project to attract venture and startup companies to the region and support their stable growth. As a result, Gwanak S-Valley was selected last year as part of the ‘Seoul City Southwest Region Balanced Development Rapid Promotion Project,’ gaining external recognition. Also, two resident companies received innovation awards at the International Consumer Electronics Show (CES 2024) held in January this year, demonstrating tangible achievements.

District Mayor Park Jun-hee said, “Gwanak S-Valley has the advantages of excellent transportation, easy access to Seoul National University’s outstanding human resources, and relatively affordable rental costs,” adding, “We will continue to actively promote Gwanak S-Valley to encourage the inflow of excellent companies into the region, revitalize the local economy, and transform Gwanak-gu into an innovative economic city.”

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