Establishing an Entrepreneurship Support System in Southwestern Seoul Including Geumcheon-gu

Geumcheon-gu Signs Industry-Academia-Government Agreement to Boost Youth Startups, First in Seoul's Southwest Area
14 Institutions Including 5 Districts, 6 Universities, and 3 Support Agencies Participate

Geumcheon-gu (Mayor Yoo Seong-hoon) announced on October 23 that it signed a business agreement with related local governments, industries, and universities at Chung-Ang University Centennial Hall to revitalize and support the growth of youth startups in the southwestern region of Seoul.

This agreement holds significance as the first multilateral cooperation involving numerous institutions from industry, academia, and government to activate youth startups in the southwestern region of Seoul.

The agreement involved a total of 14 institutions, including five autonomous districts?Geumcheon-gu, Gangseo, Gwanak, Guro, and Dongjak?six universities?Gangseo University, Dongyang Mirae University, Seoul National University, Soongsil University, Chung-Ang University, and Chongshin University?and three business support organizations?Seoul Business Agency, Small and Medium Business Corporation, and Korea Industrial Complex Corporation.

The innovation leaders of industry, academia, and government in the southwestern region who participated in the agreement reviewed the roles of each institution and decided to lead innovation and growth in the southwestern region by establishing an optimized startup ecosystem foundation tailored to the growth stages of startup companies.

The autonomous districts will create conditions for startup companies to settle in the region and provide administrative and financial support. Universities will play a role in discovering and nurturing excellent startups in the preliminary or early stages.

Business support organizations plan to support the growth of startups in the leap stage, thereby creating a startup support system in the southwestern region through the combined efforts of industry, academia, and government.

Yoo Seong-hoon, Mayor of Geumcheon-gu, said, “This agreement will not only contribute to revitalizing youth startups in the southwestern region of Seoul but also serve as a cornerstone for young people aspiring to start their own businesses to achieve their dreams. We will continue to strive to make Geumcheon-gu a favorable place for youth entrepreneurship.”