'Changwon is Serious About Startups' ... Startup Support Agency Council Formed, Ready to Support Startup Companies!

Changwon City, Gyeongnam, has formed the 'Startup Support Institutions Council' to support startup companies together with 17 startup support institutions and organizations. [Image source=Changwon City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Changwon City, Gyeongnam, formed the 'Startup Support Institutions Council' on the 16th to revitalize the technology startup ecosystem.

The council supports technology startups with significant effects on technological innovation and job creation by strengthening communication among startup support institutions and organizations within the region and organically utilizing each institution's expertise.

Through this, it aims to revitalize the startup ecosystem and improve the startup landscape, which is heavily concentrated in the metropolitan area.

Led by the city, a total of 17 organizations participated, including six startup support institutions such as the Changwon Chamber of Commerce and Industry, Gyeongnam Creative Economy Innovation Center, Small and Medium Business Corporation Gyeongnam Regional Headquarters, Korea Technology Finance Corporation and Korea Credit Guarantee Fund Changwon Branch, Changwon Industry Promotion Agency; seven startup incubation centers; and investment institutions such as Inlight Ventures, Gyeongnam Venture Investment, and Gyeongnam Venture Startup Association.

Through the agreement, the city will establish a comprehensive plan to support technology startups and create a technology startup-friendly atmosphere through administrative and financial support, while related institutions and organizations will help the virtuous cycle of the startup ecosystem by operating technology startup support programs and supporting commercialization.

Startup incubation centers will strive to increase startup success rates by providing space and supporting education and training for early-stage entrepreneurs, and investment institutions will grow startups into star companies through professional consulting.

Mayor Heo Seong-mu said, "The launch of the council is expected to be an important turning point in leading technology startups, which will be Changwon's future growth engine, and in establishing a unique startup ecosystem for Changwon," adding, "We will all work together to make Changwon a city of opportunity where global unicorn companies emerge."

Meanwhile, the city enacted the Technology Startup Support Ordinance in May and relocated and expanded the Startup Support Center next to the Startup Support Housing in July.

Additionally, to revitalize technology startups, the city is introducing new policies and expanding projects such as startup accelerating, discovering TIPS startup teams, and supporting participation in CES for overseas market entry. On October 13, the city plans to hold the '2021 Startup Tech Show,' the region's largest startup festival.