Yangju Startup Growth Support Center Newly Designated as 'Startup Incubation Center' by Ministry of SMEs and Startups

Yangju City in Gyeonggi Province announced that the 'Yangju Startup Growth Support Center' has been newly designated as a 'Startup Incubation Center (BI, Business Incubator)' by the Ministry of SMEs and Startups.

Yangju Startup Growth Support Center Newly Designated as a ‘Business Incubation Center (BI)’ by the Ministry of SMEs and Startups. Provided by Yangju City

The 'Startup Incubation Center (BI)' is a specialized incubation institution that provides comprehensive services necessary for business growth, such as management and technology consulting and business commercialization support, in addition to offering office space. These services are provided in accordance with the 'Support for Small and Medium Enterprise Startups Act' to increase the likelihood of success for startups.

The Yangju Startup Growth Support Center, which opened in December last year, has been newly designated as a Startup Incubation Center (BI) by the Ministry of SMEs and Startups after about five months, thereby strengthening its role as a hub for startup support in the region.

Currently, the center is managed by the Industry-Academia Cooperation Foundation of Kwangwoon University, and operates on-site support programs for resident companies, leveraging its research infrastructure and industry-academia cooperation network. Key programs include: ▲ Youth entrepreneurship programs ▲ Provision of startup office space ▲ Customized consulting and expert mentoring for companies ▲ Support for commercialization, such as prototype production ▲ Networking and support for developing domestic and international sales channels.

The city explained that the recent designation as a Startup Incubation Center (BI) by the Ministry of SMEs and Startups was made possible by the systematic operation of startup support programs and an incubation system based on industry-academia cooperation.

Furthermore, with the establishment of credibility through this designation, the city expects positive effects for attracting promising startups and facilitating investment linkages. Based on this, Yangju City plans to further advance a region-centered startup ecosystem that supports the full cycle from startup and growth to settlement.

An official from Yangju City stated, "Yangju's startup support infrastructure has been significantly strengthened based on the professional management capabilities of the Industry-Academia Cooperation Foundation of Kwangwoon University and the government-certified startup support system," adding, "We will continue to provide practical and systematic support so that innovative companies in the region can grow into competitive businesses."

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