[Asia Economy Reporter Park Hyesook] Bucheon City in Gyeonggi Province announced on the 9th that it will promote the '2022 Bucheon Cultural Contents Startup League' public contest project.
This aims to develop Sangdong Video Culture Complex into a cultural industry convergence growth hub by fostering innovative startups in the cultural contents sector.
Through the contest, about seven innovative startups will be selected. The selected companies will sign a business agreement with Bucheon City and receive differential commercialization funds totaling 250 million KRW through phased league (evaluation) stages, along with office space benefits at the Webtoon Convergence Center scheduled to open in May next year.
The city also plans to continuously support the growth of companies through expert consulting and venture investor mentoring for startup advancement.
Applicants must be corporate businesses established within seven years, possessing content-based startup companies with innovative technologies and service business models in content genres such as film, games, webtoons, as well as AR, VR, NFT, and metaverse.
Applications will be accepted until May 27, and final selections will be made in June after document evaluation, presentation evaluation, and interviews.
A Bucheon City official stated, "Through this contest, we plan to attract innovative companies to the region and nurture them into successful enterprises," adding, "We will strengthen support such as infrastructure development and linkage with existing projects to create an innovation growth ecosystem centered on youth startups and startups."
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