[Asia Economy Reporter Park Hyesook] On the 30th, a briefing session for companies scheduled to move into the open innovation startup hub 'Incheon Startup Park,' officially opening at the end of this year, was held at Songdo G Tower.
The briefing was attended by bio companies and firms based on 4th Industrial Revolution technologies. These companies will establish their base in Incheon Startup Park, where they can grow into promising startups through demonstration, investment, and global expansion programs.
Notably, prospective unicorn companies such as Doter (valued at 18 billion KRW, cardiovascular optical coherence tomography equipment), Pubple (valued at 6.8 billion KRW, O2O textbook production and distribution platform), Mujin (valued at 2.8 billion KRW, microneedle active ingredient penetration improvement), and CoreSite (valued at 1.8 billion KRW, game data analysis service) attended, showing the enthusiasm for moving into Incheon Startup Park.
The companies attending the briefing are promising startups selected through the highly competitive Boost Startup Journey program and demonstration commercialization support project this year. As of the end of September this year, they have achieved new job creation of 54 people, 52 patent applications and registrations, investment attraction of 3.589 billion KRW, and secured 945 million KRW in funds through other support projects.
Additionally, Incheon Startup Park supports product and service demonstration and early commercialization of startups by providing Incheon-specific demonstration resources such as smart city infrastructure, Incheon International Airport, and Inha University Hospital, with all participating companies preparing for investment and global expansion.
At the briefing, Bernhald Fassl, Director of the Center for Medical Innovation (CMI) at the University of Utah, USA, and Deputy Director Justin Brunson gave lectures on global expansion strategies for Korean bio startups and support for FDA (U.S. Food and Drug Administration) regulatory approval.
Also, Seongmin Chae, Executive Director of CNT TECH, the operator of TIPS (a private-led startup support program designated by the Ministry of SMEs and Startups), introduced the TIPS program support system for technology-based startups under the theme "Exploring Startup Trends of Technology-Based Startups Analyzed Based on TIPS Investment Cases."
After the lectures, the companies visited the Incheon Startup Park construction site to directly check the move-in spaces.
Tomorrow City in Songdo International City, where Incheon Startup Park is being established [Photo by Incheon Free Economic Zone Authority]
Incheon Startup Park, located in Tomorrow City, Songdo International City, is a startup cluster space where entrepreneurs, investors, universities, and research institutions, as innovation agents, network in an open space through public-private collaboration.
It consists of Startup Tower I, where startups and ventures conduct mutual exchange and research ideas through private-led nurturing programs; Startup Tower II, which provides programs from related companies and institutions to exclusively nurture public-led innovative ideas; and Healing Tower, a convenience facility and collaborative shared space.
The Startup Park project, which the Ministry of SMEs and Startups is focusing on, aims to establish an open innovation startup hub similar to Silicon Valley in the U.S., Zhongguancun in China, and Station F in France.
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