A total of 94 companies from Seoul and non-capital regions applied for residency... 12 new startups selected with a competition rate of 8:1
Numerous innovative technology companies in AI, ICT, and robotics applied for entry... Intensive support for one year including startup space, business diagnosis, open innovation, and inter-company networking
Last month, Gwanak-gu (Mayor Park Jun-hee), which was recruiting companies to move into the Gwanak S Valley startup space, has finally selected 12 companies poised to become global unicorns.
A total of 94 startups applied for this recruitment, including companies based not only in Seoul but also in non-capital regions such as Sejong and Jeonju, resulting in a high competition rate of 8:1.
Notably, more than 50% of the companies applying for residency were startups in the innovative technology field based on artificial intelligence (AI). In addition, many startups possessing core technologies of the 4th industrial revolution such as information and communication technology (ICT), robotics, and biotechnology also applied, showing a tendency to prefer Gwanak S Valley as an ‘advanced technology startup hub.’
The selected companies will move into the Nakseong Venture Startup Center (7 companies) and the Sillim Venture Startup Center (5 companies), receiving affordable startup spaces for one year starting from March 1.
During the residency period, performance and growth potential will be evaluated, and outstanding companies may receive benefits such as an extension of their residency period. Furthermore, the district will intensively support the growth and investment attraction of resident companies through various programs including ▲business diagnosis ▲one-on-one mentoring ▲open innovation ▲demo days ▲networking among companies ▲promotion support.
Gwanak S Valley has established itself as a ‘global startup innovation hub’ with international competitiveness, having participated in the Consumer Electronics Show (CES) for two consecutive years as the first autonomous district and consecutively winning innovation awards. A district official said, “Gwanak S Valley is emerging as a key gateway for expanding into overseas markets beyond Korea,” adding, “We will support the growth of excellent venture startups through customized support for each company and invigorate the venture startup ecosystem in Gwanak-gu.”
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