GH Achieved Major Success in Supporting Startup Overseas Expansion Last Year... Continuing Efforts This Year

Gyeonggi Housing and Urban Corporation (GH) will continue to support startups' overseas expansion this year, following last year.

GH announced on the 12th that, as companies participating in the startup overseas expansion support program ‘GH Basecamp’ have consecutively achieved investment attraction results, it will promote this project again this year to establish a sustainable ‘Opportunity Service Model’ based on these achievements.

GH Basecamp is a program that supports investment attraction activities in Silicon Valley, San Francisco, USA, for companies located in Pangyo that wish to expand overseas. Last year, GH selected five companies and supported various investment attraction activities and exchange events, including participation in Silicon Valley startup accelerating events.

The project funding was prepared by reinvesting the profits from ‘Opportunity Power Plant,’ an open shared office operated by GH in the 2nd Pangyo Technovalley.

Among the five venture companies, the biohealth company Celtasquare held business consultations with global information and communication (IT) companies such as Oracle and IBM in the US following corporate presentations in Silicon Valley last year, and in January this year, secured Series A investment worth a total of 9.2 billion KRW.

Gyeonggi Housing and Urban Development Corporation

Earlier, the artificial intelligence (AI) company MangoSlab started selling ‘Nemonic,’ a product combining AI and printers, in the US in October last year and successfully raised 600 million KRW through crowdfunding in Taiwan in December.

The other three companies, ExoSystems, JL Standard, and Fliption Korea, are also accelerating their global expansion by launching new services targeting overseas markets.

To continue these achievements, GH plans to support air travel, accommodation, transportation, and education in Silicon Valley for companies located in Pangyo this year as well, and provide opportunities for investor relations (IR) pitching by participating in large-scale startup accelerating events.

Kim Se-yong, President of GH, said, "We hope that promising domestic startups will grow into influential global companies in overseas markets through GH Basecamp."