As Part of Yongsan-Type Startup Support Activation Policy
Collaboration Including Support for Startup Experts and Content Sharing
Seoul Yongsan-gu (left in the photo, District Mayor Park Hee-young) and Seoul Creative Economy Innovation Center (Director Lee Young-geun) signed a "Business Agreement for Creating a Startup-Friendly Environment" on the 30th of last month. Provided by Yongsan-gu.
Yongsan-gu, Seoul (District Mayor Park Hee-young) announced on the 2nd that it has signed a "Business Agreement for Creating a Startup-Friendly Environment" with the Seoul Creative Economy Innovation Center to revitalize Yongsan-style startup support. This agreement was made to discover cooperative institutions to help the growth of tenant companies at the startup support center operated by the district through expanding an organic cooperation system among startup support organizations in the region.
According to the agreement, the district and the Seoul Creative Economy Innovation Center will mutually recommend professional personnel for conducting startup education and consulting, as well as experts participating in the steering committee, and share excellent content and other information related to creating a startup environment. When each institution announces recruitment for tenant companies, they will recommend tenant companies eligible to apply and outstanding tenant companies for investment linkage.
The Seoul Creative Economy Innovation Center (Director Lee Young-geun), located near Yongsan Station, is a public-related organization supported by budgets from the Ministry of SMEs and Startups and Seoul City, promoting startup education, mentoring, and investment attraction. A district official said, "As the number of young entrepreneurs increases, the competition rate for the Youth Startup Support Center tenants reaches 7 to 1," adding, "We will find various ways to support prospective entrepreneurs in cooperation with startup incubation institutions."
Under the 8th elected term, Yongsan-gu is focusing all efforts on creating a startup-friendly environment and fostering excellent startup companies. The district nurtures 33 startup companies in five business incubation rooms at the Startup Support Center (77 Cheongpa-ro), and in the Youth Startup Support Center (17 Seobinggo-ro), which has ten two-person startup incubation rooms, seven four-person rooms, and 11 open seats.
It also provides startup loans worth 10 billion KRW annually. For startups located in the region, companies can borrow up to 100 million KRW per company at an annual interest rate of 1.5%.
The tenant company "Black Parrot" at the Youth Startup Support Center successfully attracted about 600 million KRW in investment from Samsung Ventures last year and filed one patent. "Indip" received the Venture of the Year award from the Korea Venture Business Association this year, and "Hopers" was selected as a tourism venture by the Korea Tourism Organization.
District Mayor Park Hee-young said, "As the International Business District and Yongsan Electronics Market area are expected to transform into new industry hubs, the demand for startups in the region will increase significantly," adding, "We will do our best to make Yongsan a startup innovation hub where prospective entrepreneurs can create a better future."
This business agreement was signed on the 30th of last month at the Yongsan-gu Office Mayor’s Office. The agreement period is one year and will be automatically extended.
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