Gwangyang Bay Area Materials and Components Knowledge Industry Center Newly Designated as Startup Incubation Center

Establishing a Foundation for Startup Incubation and Commercialization Support

Gwangyang City, South Jeolla Province, announced on May 13 that the "Gwangyang Bay Area Materials and Components Knowledge Industry Center," located in the Iksin General Industrial Complex, has been newly designated as a Startup Incubation Center (BI) by the Ministry of SMEs and Startups.

The Startup Incubation Center is a facility that supports the growth of prospective entrepreneurs and early-stage startups. It provides office space, as well as various startup support programs including research and development infrastructure, business and technology consulting, and more.

The "Gwangyang Bay Area Material and Component Knowledge Industry Center" located in the Iksin General Industrial Complex in Gwangyang has been newly designated as a Startup Incubation Center (BI) by the Ministry of SMEs and Startups. Provided by Gwangyang City

The Gwangyang Bay Area Materials and Components Knowledge Industry Center has a total floor area of 7,943 square meters and consists of one basement and five above-ground floors. Currently, 24 small and medium-sized enterprises in future industries such as secondary batteries, smart manufacturing, and information technology (IT) services are based in the center.

Even before being designated as a Startup Incubation Center, the center had been carrying out support projects for its tenant companies. Last year, it provided customized support worth 312 million won to 11 tenant companies, including assistance with obtaining certifications and creating prototypes. As a result, the total sales of tenant companies increased by approximately 3.53 billion won compared to before moving in.

With this new designation, the city plans to operate step-by-step startup support programs, including tailored consulting and expert mentoring for companies, support for commercialization such as prototype production, investment linkage, and market development.

In addition, the city plans to participate in the Ministry of SMEs and Startups' "2027 Specialized Competency Startup Incubation Center Support Project (Hub Type)" public contest next year. To this end, it will form a consortium in cooperation with local startup-related organizations and operate joint incubation programs involving the local government, related organizations, and startups. These efforts will support investment attraction, domestic and overseas market development, and the establishment of cooperative networks.

A Gwangyang City official stated, "This designation as a Startup Incubation Center will serve as an important first step in expanding the somewhat limited infrastructure for startup incubation in the region and establishing a local, entrepreneur-centered startup ecosystem that connects 'startup-growth-settlement.' We will continue to provide practical startup support so that promising startups can settle stably in Gwangyang, leading to job creation and revitalization of the local economy."

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