Gwangju City to Invest 1.5 Billion Won in Full-Cycle Support for Technology Startups

Recruitment of Technology and Technology Transfer Prospective Entrepreneurs until April 24
Up to 25 Million Won in Prototype Commercialization Funding
Office Space and Technology Advancement Support for Startups within 3 Years of Founding by Young Entrepreneurs

The city of Gwangju will invest 1.5 billion won this year to provide step-by-step customized support for local prospective entrepreneurs and early-stage startups. The city plans to operate a continuous support system centered on technology-driven startups, covering everything from talent discovery and business commercialization to space support.

On April 6, Gwangju Metropolitan City announced that it will implement the "Customized Prospective Entrepreneur Discovery and Development Program" through January next year to systematically identify and nurture entrepreneurial talent.

Gwangju Metropolitan City Hall. Photo by Bohyun Song

This program consists of ten detailed support projects. Among them, three projects—Support Program for Technology-Based Prospective Entrepreneurs, Technology Transfer Prospective Entrepreneur Support Program, and Follow-up Commercialization Funding Support Program for Prospective Entrepreneurs—are accepting applications for participants until April 24.

The Support Program for Technology-Based Prospective Entrepreneurs targets ten individuals who possess technology and ideas. The Technology Transfer Prospective Entrepreneur Support Program selects and supports ten prospective entrepreneurs who utilize outstanding university technologies. Selected participants will receive up to 25 million won in commercialization funds needed for prototype production and technology transfer. The program also includes basic entrepreneurship education, introductory investor relations (IR) training, and a knowledge-sharing program led by experienced entrepreneurs.

The Follow-up Commercialization Funding Support Program will select four outstanding companies among those that have participated in technology-based or technology transfer support projects in the past three years, providing up to 10 million won per company to help advance their technologies or products.

In addition, startups run by CEOs aged 39 or younger and established within the past three years are eligible for support that includes office and residential space as well as funding for technology advancement. Twenty-two offices within the "I-PLEX Gwangju" facility will be available, and they will be leased for up to three years on a rolling application basis as vacancies arise.

Details about the program can be found on the websites of Gwangju Technopark and I-PLEX Gwangju. Inquiries can be made through the Startup Growth Center at Gwangju Technopark.

Oh Younggeol, Director General for Economic and Startup Affairs at Gwangju Metropolitan City, said, "We will continue to provide tailored, step-by-step support to help local entrepreneurs with technology and ideas achieve stable growth. We are committed to strengthening the startup ecosystem and making Gwangju a leading city for entrepreneurship."

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