Support Includes Office Space, Startup and Research Funding Subsidies, and Testbed Access
Busan Port Authority (BPA) is inviting applications for companies to newly join the startup support platform in the shipping, port, and logistics sectors, ‘1876 BUSAN,’ until February 14.
‘1876 BUSAN’ is a technology startup support platform jointly operated by Busan Port Authority in collaboration with the Korea Maritime Promotion Corporation and Busan City to support startups in the shipping and port sectors and create jobs in the Busan area.
BPA plans to select up to four companies through a comprehensive evaluation of business plans, technological capabilities, and management skills among prospective entrepreneurs and startup companies applying for this call.
The selected companies will sign a residency contract for up to two years and receive various support programs including △provision of office space (rent-free) △startup and research funding subsidies △testbed provision △promotion support.
The residency and support targets are △prospective entrepreneurs and △small and medium-sized enterprises (SMEs) established less than seven years ago in the shipping, port, and logistics sectors. Detailed criteria such as the startup base date will follow the ‘Small and Medium Enterprise Startup Support Act.’
Since its pilot operation began in February 2022, the ‘1876 BUSAN’ platform has supported a total of 15 startup companies over about three years, with 11 companies currently residing.
To promote technology development of resident companies, BPA has conducted various national R&D joint projects, co-investment type technology development support projects, and open innovation support projects, achieving results such as an average sales increase of 272% and an average workforce increase of 48% over three years of platform operation.
Kang Jun-seok, President of BPA, stated, “We will continue to provide sustained support to startups in the shipping and port sectors.”
Companies wishing to reside can submit the common and additional documents specified in the residency announcement via email.
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