Gwanak-gu Supports Venture and Startup Companies with Up to 10 Million KRW for Technology Consulting Costs

Resolving Technical Challenges Faced by Startups in Technology Development
SNU Engineering Consulting Center and Korea Electronics Technology Institute Collaborate to Support Venture and Startup Technology Consulting

Gwanak-gu (District Mayor Park Jun-hee) has once again taken active steps this year to support the discovery of new growth engines for local venture and startup companies.

The district is promoting the ‘Technology Consulting Support Project’ to solve problems faced by venture and startup companies struggling with technology development.

The ‘Technology Consulting Support Project’ is part of the district’s key initiative, the 'Gwanak S Valley' project, which collaborates with universities and research institutes to resolve technical challenges faced by startup companies and supports the associated costs.

Since 2022, the district has signed agreements with Seoul National University’s SNU Engineering Consulting Center and the Korea Electronics Technology Institute, actively supporting the resolution of technical issues for a total of 18 companies to date.

Startup companies can gain a competitive edge over rivals and quickly establish themselves in the market by receiving professional assistance to overcome technical difficulties encountered during prototype development and product improvement processes.

A representative of a startup company supported by the district expressed satisfaction, saying, “I applied for consulting support with a desperate feeling that it was my ‘last chance,’ and I received help in many areas beyond the problems I initially thought were the issue. It was a precious time that cannot be measured in value.”

Technology consulting proceeds from an initial consultation to a second in-depth consultation, with the district supporting consulting costs up to 10 million KRW (with at least 20% self-payment) for the second consultation. However, this is conditional on relocating at least one business site, such as headquarters, branch, or technology research center, to Gwanak-gu.

Applicants must be technology-based venture or startup companies within seven years of establishment and have at least two research and development personnel.

To apply, submit the application form and other required documents via email to the person in charge.

Detailed information can be found on the Gwanak-gu Office website (News & Notices → Announcements).

Since 2018, the district has been focusing on the ‘Gwanak S Valley’ project to attract venture and startup companies locally and support their stable growth.

As a result, ‘Gwanak S Valley’ was designated as a Venture Business Promotion District in 2022, and in February of this year, the ‘Gwanak S Valley Hub Space Creation Project’ was included in Seoul’s ‘Southwest Seoul Urban Regeneration’ plan.

Through this, the district is creating an AI (Artificial Intelligence) hub research complex and startup support facilities around the Nakseongdae area, establishing an industry-academia-research venture startup hub space. ‘Gwanak S Valley’ is expected to become a new startup cluster connecting Gangnam’s Teheran-ro and Guro’s G Valley.

District Mayor Park Jun-hee stated, “Gwanak S Valley, which includes Seoul National University with its many talented individuals, can be likened to a treasure trove full of advanced technology,” adding, “We will continue to actively support the strengthening of cooperation between Seoul National University and companies located in Gwanak S Valley by utilizing Seoul National University’s excellent technology, and promote active technology startups.”

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