Gyeonggido Business & Science Accelerator, 85% Increase in Sales of Tenant Companies at Gyeonggi Startup Innovation Space

Gyeonggi-do Style Coworking Space

The sales revenue of companies residing in the Gyeonggi Startup Innovation Space within the Gyeonggi-do Economic Science Promotion Agency has increased by approximately 85%.

On the 9th, the agency announced that a survey on the business status of 347 companies residing in the Gyeonggi Startup Innovation Space and other locations in the first half of this year revealed that the sales revenue of resident companies reached 110.3 billion KRW, an 85% increase compared to the same period last year. The average sales revenue per company was 310 million KRW, significantly surpassing the national average sales revenue of 240 million KRW for startups last year.

There were also clear achievements in job creation. The total number of employees was 1,688, a 32% increase compared to 1,278 in the same period last year. Among them, 453 were newly employed, with startups older than three years accounting for the largest share of new hires at 200.

Innovation capabilities are also continuously strengthening. Resident companies acquired a total of 569 intellectual property rights and certifications in the first half of this year alone, averaging 1.64 per company.

Notably, there has been a sharp increase in companies in new industry sectors. Among all resident companies, 257 belong to new industry sectors, accounting for 74.1%, which is a 72% increase compared to 149 companies in the same period last year.

Kang Seong-cheon, president of the agency, stated, "This survey result clearly demonstrates the potential and competitiveness of startups in Gyeonggi-do," adding, "We will continue to strengthen the startup ecosystem and spare no effort to support startups in becoming a new growth engine for the Gyeonggi-do economy."

Meanwhile, Gyeonggi-do and the agency will hold the '2024 Gyeonggi Startup Summit (South Summit Korea),' Asia's first international AI startup expo, in Gwanggyo and Pangyo in September to support collaboration between related industries, which resident companies identified as the most needed policy.

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