Gyeonggi-do Provides Up to 50 Million KRW Support to Shared Companies

Gyeonggi Province and the Gyeonggi Economic Science Promotion Agency are recruiting companies and organizations to participate in the ‘Shared Enterprise Discovery and Development Project’ until the 20th to promote the sharing economy and develop creative shared business models.

Shared enterprises refer to companies that create economic and social value by utilizing shared resources such as spaces, goods, information, and vehicles.

Through the ‘Shared Enterprise Discovery and Development Project,’ Gyeonggi Province supports companies or organizations within 7 years of establishment that have online platform-based business models, as well as prospective entrepreneurs.

Demo Day Event for Shared Companies Held Last Year

Selected companies will receive commercialization funds ranging from a minimum of 20 million KRW to a maximum of 50 million KRW, along with customized training from private professional accelerators, one-on-one mentoring, and investment attraction opportunities.

Additionally, a demo day competition will be held, and the top company will be awarded an additional incentive of 10 million KRW.

Starting this year, extra points (up to 3 points) will be given to social ventures, social enterprises, village enterprises, and social cooperatives to expand opportunities for social economy organizations, and graduated companies that have completed support will also be given the chance to participate in the demo day.

Gong Jeong-sik, Director of the Social Innovation Economy Bureau of Gyeonggi Province, stated, "We will discover shared enterprises with high growth potential and help them settle in the market to nurture them as leading companies in the sharing economy."

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