Competition Rate for Gwanak S Valley Startup Space: 13 to 1

‘Nakseong Venture Startup Center’ 6 rooms and ‘Sillim Venture Startup Center’ 2 rooms receive 100 company applications
Over 80% of resident companies come from other areas like Gangnam and Mapo, showing nationwide interest in Gwanak S-Valley...Affordable rent below market price, office equipment support, and customized programs for business growth planned

Gwanak-gu (Mayor Park Jun-hee) selected 8 new companies to move into the Gwanak S Valley startup space on the 21st of last month.

Six companies will move into the Nakseong Venture Startup Center, and two companies will move into the Sillim Venture Startup Center. The residency period is one year, from March this year to February next year. However, an additional one-year extension is possible based on evaluations such as ▲business model verification ▲company growth potential ▲diligence.

The district provides resident companies with office spaces at rents lower than market prices and various office equipment. In addition, to support the growth and investment attraction of resident companies, various programs will be offered in stages, including ▲company diagnosis ▲1:1 mentoring ▲open innovation ▲demo day ▲networking among companies ▲promotion support.

Despite the short application period during this recruitment of resident companies, 100 companies applied, showing a high competition rate of 13 to 1 and a strong response.

In particular, this time, excellent companies pursuing 4th industrial revolution technology-based businesses were included in large numbers, such as ▲‘Software as a Service (SaaS)’ supporting 3D or 4D content production based on generative AI technology ▲AI coaching education services ▲Internet of Things (IoT)-based integrated space management platforms.

A Gwanak S Valley official said, “Most of the companies that applied this time are located in other areas such as Gangnam and Mapo-gu,” adding, “This proves that venture and startup companies nationwide have high interest and positive responses toward Gwanak S Valley.”

Meanwhile, Gwanak S Valley is a key project of the district and has attracted attention as it was selected last year as part of the ‘Seoul Metropolitan Government’s Southwest Region Balanced Development Rapid Promotion Project.’ In January, two resident companies received innovation awards at the world’s largest international electronics exhibition (CES 2024), gaining external recognition.

Mayor Park Jun-hee said, “I hope that companies will reach a new growth turning point and leap into global companies through the excellent startup incubation programs at Gwanak S Valley startup space,” and added, “We will continue to devise various policies to revitalize the local economy and surely achieve an innovative economic city.”

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