Incheon TP's 'Early Startup Package' Drives Growth of New Companies

19 Companies Supported... 1.4 Billion Investment Attraction, 3.7 Billion Sales Achieved

Incheon Technopark

[Asia Economy Reporter Park Hyesook] The early startup package support project promoted by Incheon Technopark (Incheon TP) is proving to be a great help in the growth of rookie companies.

According to Incheon TP on the 5th, last year in the first half, 19 companies with promising items and technologies were selected and supported with 2.6 billion KRW in commercialization funds and various corporate growth programs, resulting in achievements of 1.4 billion KRW in investment attraction, 3.7 billion KRW in sales, and the creation of 57 jobs.

Shovel Professional, a functional cosmetics manufacturing and sales company, received support for item verification through consumer response surveys, R&D business plan consulting, and production of product brochures and videos, breaking into four countries including Vietnam and achieving sales exceeding 1.8 billion KRW in both domestic and international markets.

Also, Benof, which produces and sells health foods, introduced 10 new products and a subscription economy (monthly subscription service) through startup company diagnosis and clinics, investment attraction, and support for social network service (SNS) advertising costs for domestic and overseas market development, surpassing 550 million KRW in sales.

Jipsho Korea Co., Ltd., which possesses 3D spatial scanning technology including virtual reality (VR) content production and supply, secured a total of over 300 million KRW in R&D funds such as startup company diagnosis and clinics and video production support, recording sales of about 450 million KRW.

An Incheon TP official stated, "We provide funds for item commercialization and customized programs based on startup company demand to companies within three years of establishment to support their growth," adding, "We will further support early startups struggling due to COVID-19 in entering domestic and international markets."

Meanwhile, Incheon TP plans to select a total of 22 companies this year and provide commercialization funds up to 100 million KRW for prototype production, intellectual property acquisition, marketing expenses, and more.