Daejeon Technopark-Daedeok Innopolis Venture Association Support Business Growth and Competitiveness through the '2022 Traditional Manufacturing Company Spin-off Activation Support Project'

The Daedeok Innopolis Venture Association (hereinafter referred to as the Association) announced that it will provide opportunities for discovering new growth engines to traditional manufacturing companies in Daejeon through the 2022 Traditional Manufacturing Company Spin-off Activation Support Project (hereinafter referred to as the Support Project).

This Support Project targets traditional manufacturing companies in Daejeon, aiming to discover new regional growth engines and create local jobs by developing new products, pioneering new markets, and generating employment.

Employees working at parent companies in Daejeon form in-house venture teams to start new businesses, and through comprehensive support from the parent company (such as sales channels, technical consulting, management, investment, etc.), the project helps stabilize the companies and increase the success rate of startups. From the parent company's perspective, the Support Project enables bold challenges in areas that were previously difficult to enter due to internal and external factors, thus expecting a second phase of growth. For entrepreneurs, the risk of startup failure is low as they can return to the parent company if the startup fails.

The Association spares no effort in supporting companies through various means such as professional startup education, technical/management consulting support, commercialization support, and various network supports to attract promising companies to the region and achieve higher startup success rates and stable commercialization.

This year, five new startups from companies in the Daejeon area are underway, and especially with the participation of Vision Semicon Co., Ltd., a leading company in the Daedeok Special Zone, it is expected to contribute to regional economic revitalization and local talent employment.

Yang Seung-ho, Deputy General Manager of the Association, said, “To promote new startups of technology startup companies and build an ecosystem, we will provide network support such as local entrepreneur groups (Daejeon Youth Startup Committee) and leading company groups (CEO Forum), along with linked support for various ongoing support projects (job creation and professional education support) conducted by the Association. In addition, we will not spare support for coexistence between traditional manufacturing companies and advanced venture companies, contributing to regional economic revitalization through strengthening competitiveness.”