Busan's 'Technology Startup Incubating' Project Flourishes... Nurturing 100 Leading 4th Industrial Revolution Startup Companies

Recruiting 30 Pre-Startup Companies and 70 Early-Stage Companies Under 1 Year from Feb 19 to Mar 19

Benefits Include 1:1 Customized Education and Consulting, Commercialization Funds, Market Access, and Investment Attraction Support

Overview of Technology Startup Incubating Project Implementation.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A large-scale ‘incubating project’ aimed at nurturing 100 promising startup companies will be launched in Busan.

Busan City (Acting Mayor Lee Byung-jin) announced that starting from the 19th, it will begin the ‘2021 Technology Startup Incubating Project’ in collaboration with the Busan Economic Promotion Agency Startup Support Center to foster technology-based pre-startup and early-stage startup companies.

This project has supported about 2,000 startup companies over 11 years since 2010, achieving a cumulative sales revenue of approximately 680 billion KRW and creating 5,200 jobs, making it one of Busan’s representative startup support projects.

This year, 30 pre-startup companies with technologies leading the 4th Industrial Revolution in fields such as technology manufacturing, IT·ICT, knowledge-based manufacturing, and services in the Busan area, as well as 70 early-stage startups established within one year (after January 2020), will be selected separately.

▲ One-year startup space will be provided at the Busan Startup Support Center located on Pukyong National University Yongdang Campus, ▲ 1:1 customized startup education programs and consulting, ▲ commercialization funds (up to 16 million KRW), ▲ support for market development and investment attraction, and ▲ in connection with the e-commerce Biz Center in Jeonpo-dong, consulting programs in the e-commerce field will also be supported.

Applications can be submitted online through the Busan Startup Portal and the Integrated Startup Support Project Management System by March 19, and Busan City will announce the final successful candidates in early April through a first-round document screening and a second-round business plan presentation evaluation.

Acting Mayor Lee Byung-jin of Busan said, “The Technology Startup Incubating Project is a foundational project for the startup ecosystem that Busan City has been promoting for over 10 years, and we will provide unwavering support so that startups nurtured by Busan can grow into global companies.”

For more details, visit the Busan Startup Portal and Busan City website, and for inquiries, contact the Busan Metropolitan City Job Startup Division.