Companies Affiliated with Gwangyang Venture Valley Business Association Achieve Various Results This Year

PosRegen Co., Ltd. Selected as Grand Prize Winner in 'Challenge K-Startup'
Ecom Co., Ltd. Finalized for TIPS Technology Startup Support Program

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] The various achievements of venture companies belonging to the Gwangyang Venture Valley Enterprise Council, supported by Gwangyang City and POSCO Gwangyang Creative Economy Innovation Center, are attracting attention.

At the final championship of the 'Challenge K-Startup' jointly hosted by the Ministry of SMEs and Startups, Ministry of Education, Ministry of Science and ICT, and Ministry of National Defense on the 21st of last month, PosRegen Co., Ltd., newly established in May this year, was selected for the 'Grand Prize' (Minister of SMEs and Startups Award, prize money of 70 million KRW).

Started in 2016, 'Challenge! K-Startup' is the largest domestic startup competition jointly held by government ministries, local governments, and the private sector.

PosRegen Co., Ltd. (CEO Oh Beom-jin) successfully commercialized as POSCO's first in-house venture by developing an eco-friendly, high-performance cement admixture using by-products, achieving sales of 500 million KRW within five months of establishment.

Ecom Co., Ltd. (CEO Ko Dae-kwon), a member company of the Gwangyang Venture Valley Council, was finally selected on the 1st for the TIPS (Tech Incubator Program for Startup), a technology startup support project hosted by the Ministry of SMEs and Startups.

The TIPS program selects promising startups with excellent technology and supports them with private investment along with government research and development (R&D) budgets. Through this, Ecom Co., Ltd. will receive 500 million KRW in business funds from the government.

Ecom Co., Ltd. is a company manufacturing engineering services and industrial ventilation facilities, and since its establishment last year, it has created jobs for three employees, marking a milestone with the TIPS selection.

CEO Ko Dae-kwon expressed, "We are grateful for the generous support from many institutions including Gwangyang City and POSCO for fostering venture and startup companies," adding, "We will develop into an excellent company representing the region and take the lead in revitalizing the local economy as well as creating jobs."

Jang Min-seok, head of the Steel Port Division, stated, "We will continuously pay attention and provide support so that the capabilities of venture companies in the Gwangyang area can be strengthened and various excellent achievements can be produced," and added, "In particular, we will review various support measures tailored to the needs of venture companies by each institution to overcome the COVID-19 crisis."

Meanwhile, the Gwangyang Venture Valley Enterprise Council (Chairman Ahn Seong-su), launched in September last year, includes 29 venture and startup companies in the district.