Secured 250 Million KRW in Project Funds
Supporting Growth of Campus Resident Companies
National Pukyong University (President Jang Young-su) has been finally selected in the Ministry of SMEs and Startups’ “Specialized Capability Startup Incubation Center (BI) Development Support Project” competition.
This project, launched for the first time this year, aims to induce the specialization of startup incubation centers by developing and operating unique startup incubation programs for individual centers and to promote the growth of resident companies.
With this selection, National Pukyong University will secure a total project budget of 250 million KRW, including 150 million KRW in annual government funding, 51 million KRW in support from Busan City, and 100 million KRW for the startup incubation center budget, and will operate the project until 2025.
The startup incubation center plans to provide various startup support programs such as startup education, prototype production, startup camps, and technical problem-solving for 223 resident companies on campus (as of March 2024), as well as general companies and startup companies founded by professors and students.
Since being designated as a startup incubation center in August 1999, Pukyong National University has built capabilities in supporting companies through 25 years of operating the incubation center and attracting various projects, and was highly evaluated for having the largest incubation facilities in the southeastern region and dedicated infrastructure for startups and industry-academia-research collaboration.
In particular, the campus has been designated as a New Technology Startup Cluster Area, Busan Research and Development Special Zone, and Busan Youth Startup Promotion District, and was recently selected for the Campus Innovation Park project, which was recognized as a strength that can be linked to the future ‘POST-BI’ project.
Oh Jeong-hwan, Director of the Industry-Academia Cooperation Foundation, said, “The startup incubation center aims to discover and nurture competitive venture companies and to advance the startup cluster through innovation-driven growth in industry, academia, and research. We will support startup talents and companies to innovate in line with university innovation and grow into competitive companies together with the region.”
National Pukyong University expects to gain momentum in nurturing startup companies and revitalizing the regional economy, having been selected as the lead institution for the “BI Operation Support Project” in the “2024 Startup Incubation Center Management Evaluation” prior to this project.
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