Performance of 30 Participating Companies in Sales, New Employment, and Investment Attraction
[Asia Economy Reporter Park Hyesook] The 'Boost Startup' program, promoted by Incheon Startup Park, the first open innovation startup hub in Korea, is achieving results and greatly helping startups enter the global market.
According to the Incheon Free Economic Zone Authority on the 24th, through this program, which started for the first time last year, 30 startups recorded sales of 12 billion KRW, 149 new jobs, 14 export cases, 43 patents, and 2.7 billion KRW in investment attraction.
'Boost Startup' is a program that enhances global capabilities by providing mentoring, networking, localization support, export, and investment attraction to startups discovered by specialized startup nurturing institutions.
It offers support such as more than 5 recommendations for the private investment-led technology startup support program (TIPS) hosted by the Ministry of SMEs and Startups, direct investment of over 1.1 billion KRW, support for 5 patent applications, support for 5 follow-up investment connections, and participation support for 5 demo days (events where prototypes and business models are presented to investors).
An official from Incheon Startup Park stated, "This program supports the global expansion of technology-capable startups and is expected to greatly contribute to building an innovative startup ecosystem in the Incheon Free Economic Zone."
Incheon Startup Park decided to continue the Boost Startup program this year and recently started a global capability enhancement program targeting 30 startups discovered together with five specialized startup nurturing institutions (accelerators) including Nautilus Investment, Big Bang Angels, CNT Tech, Zephyrus Lab, and Kingo Spring.
Incheon Startup Park, officially opened in February this year in Songdo International City within the Incheon Free Economic Zone, is a startup cluster space where entrepreneurs, investors, universities, and research institutions network in an open space through public-private collaboration.
It provides an efficient development environment and demonstration support for startups through IoT (Internet of Things) test fields, AIoT (Artificial Intelligence of Things) demonstration support labs, and big data and artificial intelligence platforms.
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