Sandangong, Full-Scale Support for Industrial Complex Ecosystem Revitalization through Open Innovation

Recruiting 40 Startups to Collaborate with 8 Demand Companies

The Korea Industrial Complex Corporation announced on the 21st that it is recruiting startups to participate in the '2024 Industrial Complex Open Innovation (KICXUP) Program.'

This program is jointly hosted by the Korea Industrial Complex Corporation and the Korea Credit Guarantee Fund, matching resident companies (demand companies) with excellent capabilities and infrastructure within industrial complexes with startups possessing innovative technologies to support mutual growth. The eight demand companies participating in this Industrial Complex Open Innovation Program are Bando Construction, VNTG, Shinsegae E&C, CJ ENM, EcoPro Partners, Polaris Office, Hite Jinro, and Korea & Company.

Daegu Headquarters of the Korea Industrial Complex Corporation

The technology demand fields include ▲Artificial Intelligence (AI) ▲Big Data ▲Eco-friendly Energy ▲Bio Healthcare ▲Smart Mobility ▲Robotics, and approximately 40 domestic and international startups will be recruited to collaborate with the eight demand companies. Startups less than 10 years old with innovative technologies in these fields are eligible to apply, and selection will be made through a two-stage process: first document evaluation, then presentation evaluation.

The startups finally selected will receive various benefits, including open innovation with demand companies, commercialization support funds, business diagnosis consulting, investment attraction and TIPS linkage, credit guarantee fund guarantees, and startup office space.

The Korea Industrial Complex Corporation plans to provide business opportunities with global companies from the U.S., Japan, Singapore, and others in early October through '2024 KICXUP Global,' linked to the 60th anniversary ceremony of industrial complexes, for startups participating in the open innovation program.

Lee Sang-hoon, President of the Korea Industrial Complex Corporation, said, “Since the Industrial Complex Open Innovation Program was launched in 2022, the number of technology collaboration cases has increased from 2 to 10 the following year, confirming the importance of building an open innovation ecosystem centered on industrial complexes.” He added, “Starting this year, to accelerate technological innovation in the stagnant regional manufacturing industry, we plan to expand the open innovation ecosystem focusing on non-capital region industrial complexes.”

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