Gyeonggi-do Economic Science Promotion Agency Publishes "Deep Tech Startup Overseas Expansion Policy Plan Report"

The Gyeonggi-do Economic Science Promotion Agency has published the "Gyeonggi-do Deep Tech Startup Overseas Expansion Policy Plan Report," which presents global expansion strategies and policy alternatives for deep tech startups in the province amid a rapidly changing industrial environment.

This report was created to systematically establish overseas market entry strategies for technology-based startups, as deep tech sectors such as artificial intelligence (AI), biotechnology, quantum technology, and space exploration are emerging as key drivers of national growth and industrial transformation.

Gyeonggi-do Economic Science Promotion Agency's "Gyeonggi-do Deep Tech Startup Overseas Expansion Policy Plan Report"

The report identifies the limitations of the manufacturing-centered growth model, the restructuring of global supply chains, and the intensification of technological hegemony competition as major background factors. It redefines the policy perspective by emphasizing the need for deep tech startups to target overseas markets from the early stages of growth.

Deep tech refers to highly advanced and specialized technologies within specific fields, with a representative example being SpaceX, the space exploration company led by Elon Musk.

The report points out that while Gyeonggi-do is the most active region for technology startups nationwide, its scaling-up performance remains relatively low. It highlights the need to establish a systematic support system tailored to the region's characteristics.

In addition, the report comprehensively outlines the structural limitations commonly faced by the domestic startup ecosystem, such as weak overseas capital and talent networks and a lack of global openness, and presents the necessary conditions for the growth of the deep tech industry.

Hyun Changha, Executive Director of the Future Industry Division at the Gyeonggi-do Economic Science Promotion Agency, stated, "Overseas expansion is a survival strategy for deep tech startups," adding, "We will strengthen effective support to ensure that Gyeonggi-do secures global competitiveness in future strategic sectors such as AI and biotechnology."

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