SparkLabs, Busan IT Industry Promotion Agency Recruit ICT Youth Startup Companies

Differentiated Support for Commercialization Funds up to 90 Million Won

Startup accelerator SparkLabs announced on the 22nd that it will support young startup companies based in the Busan, Ulsan, and Gyeongnam regions through the '2024 ICT Innovation Square Expansion Project' in collaboration with the Busan IT Industry Promotion Agency.

The 'ICT Innovation Square Expansion Project' is a practical professional artificial intelligence (AI) software development promotion project led by the Ministry of Science and ICT and the National IT Industry Promotion Agency.

This year, SparkLabs will select five young startups and provide benefits including ▲differentiated support of up to 90 million KRW in commercialization funds ▲pitch consulting and pitch deck design production for investment attraction ▲participation in a customized acceleration program provided by SparkLabs for about six months ▲and direct investment review for outstanding companies.

Eligible participants for the project are ▲startup companies within seven years of establishment with innovative ideas in the ICT field located in the Busan, Ulsan, and Gyeongnam regions ▲teams capable of completing product and service development or prototype production during the project period ▲and young entrepreneurs aged 19 to under 39 as of the announcement date.

Kim Yujin, co-CEO of SparkLabs, said, “Following last year, we have collaborated with the Busan IT Industry Promotion Agency to revitalize the startup ecosystem in the Busan-Ulsan-Gyeongnam region,” adding, “We will spare no effort to provide full support for young startups with high potential to grow into future unicorns, as well as to strengthen the ICT capabilities of the Busan-Ulsan-Gyeongnam region.”