The Ministry of Land, Infrastructure and Transport announced on the 18th that it has launched a new package offering a variety of support measures for early-stage companies in the spatial information sector. This program is funded by the ministry and organized by the Korea Land and Geospatial Informatix Corporation.
The initiative aims to provide a foundation for promising startups to grow and to establish a sustainable and innovative ecosystem in the spatial information industry. Applications for the first cohort of the Spatial Information Growth Leap Package will be accepted from the 19th until June 13. Any startup established less than seven years ago (less than ten years for those in new industries) is eligible to participate via the Sangsaengnuri Platform. More details can be found in the announcement on the K-Startup Startup Support Portal.
A total of ten companies will be selected, with five each in two categories: demand-linked, for companies seeking collaboration opportunities such as open innovation projects with demand institutions; and growth-leap, for companies with technological capabilities and expertise, mainly supporting investment and market expansion for business development. Selected companies will be eligible for up to three years of free residency at the startup incubation center being established within the Pangyo Global Biz Center. They will also receive customized support programs, including market development, technology demonstration, investment attraction, and funding. Major corporations and investment firms will participate to assist the startups.
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