Geumcheon-gu Supports Startup Growth with Generative AI Technology from Global Companies

Partnering with Seoul Business Agency to Promote 'Global Companies-G Valley Startup Open Innovation'
Applications Open on 'Startup Plus' Website Until May 20
10 Companies Selected for Commercialization Grants, Technical Consultation Support, and Performance Reporting Meeting

Geumcheon-gu (Mayor Yu Seong-hoon) is recruiting startups to participate in the ‘Global Companies-G Valley Startup Open Innovation’ project aimed at revitalizing startups in G Valley and fostering excellent new startups in the region until the 20th.

The ‘Open Innovation’ strategy refers to a business operation method that enhances the efficiency and success potential of technology development by sharing and utilizing external technologies or knowledge during research, development, and commercialization processes.

As the use of generative artificial intelligence (AI) becomes increasingly important in the business environment, this initiative is promoted to help local startups experience the AI innovation technologies of global companies and secure future competitiveness.

Generative artificial intelligence (AI) is a technology that creates new content similar to existing content such as text, sound, and images by learning and inferring patterns from existing content.

The district has signed a business agreement with the Seoul Business Agency and is promoting the project together with AWS (Amazon Web Service), a subsidiary of Amazon.

The recruitment scale is about 10 companies in total, with at least 5 companies located in Geumcheon-gu. Prospective entrepreneurs and startups less than 7 years old based in Seoul who wish to develop services using generative AI and have personnel capable of cloud development can apply.

Companies wishing to participate can check the announcement for ‘2024 G Valley Global Weconomy Startup Challenge Participant Recruitment’ on the ‘Startup Plus’ website and apply by May 20. Selection will be made through a first document screening (selecting twice the number of candidates) and a second presentation evaluation, with final results to be announced in June.

Selected companies will receive business support funds (5 million KRW per company), startup incubation program operation, and technical consultation.

Additionally, a ‘Generative AI Service Development Performance Report Meeting’ will be held in November for the selected companies to choose outstanding companies. Companies selected as outstanding will receive opportunities to move into the regional startup space ‘G Valley Startup Cube’ and receive additional points in the ‘Geumcheon Youth Dream Center’ residency screening.

Yu Seong-hoon, Mayor of Geumcheon-gu, said, “I hope this project will be an opportunity for promising startups in Geumcheon-gu to advance their AI technology capabilities and improve their self-reliance,” and added, “We ask for the interest and participation of many companies.”

For more details, inquiries can be made to the G Valley Activation Team of the Seoul Business Agency or the Job and Youth Division of Geumcheon-gu Office.