Agreements Signed with Startups... Focused Support for Eco-Friendly and Smart City Sectors
Up to 25 Million Won in Funding... Office Space, Education, and Consulting Also Provided
Gwangmyeong City in Gyeonggi Province is set to foster startups in the eco-friendly and smart city sectors to drive regional innovation.
On July 18, Gwangmyeong City signed agreements with 20 startup companies at the Startup Support Center for the "Startup Support Project for Creating Regional Innovation."
CEOs of startup companies selected for the Regional Innovation Startup Support Project are pledging regional growth through technological innovation. Photo by Gwangmyeong City
Under these agreements, the city will provide each company with business funds ranging from 15 million to 25 million won, covering development costs, publicity and marketing expenses, and material and production costs. In addition, the city will offer professional consulting, office space, and educational support. The startups will carry out their projects according to their business plans and will work to generate innovation and revitalize the local economy.
The city explained that it focused on selecting companies with technological capabilities and growth potential that align with its key policy directions, such as achieving carbon neutrality, realizing a sustainable city, and establishing a smart city foundation.
The selected companies possess specialized technologies in the eco-friendly and smart city sectors, including a hydrogen charging station safety monitoring system, electric vehicle charging solutions, waste plastic pyrolysis oil recycling technology, eco-friendly silicone product redesign, a pet entry authentication system, and industrial data collection devices.
At the event, a variety of technologies and products were also exhibited, including a pet-exclusive terminal entry authentication system, extended reality (XR) exhibition and experience content, eco-friendly pie products, modular TVs, silicone household goods, smart city wireless-controlled lighting fixtures, and Zero-G Ball writing instruments.
Park Seungwon, Mayor of Gwangmyeong City, stated, "I hope that startups based on advanced technology and eco-friendly values will grow into key players in regional innovation," and added, "We will continue to provide diverse support to build a sustainable startup ecosystem."
Previously, Gwangmyeong City secured an additional 200 million won in related support funds through a second supplementary budget to support startups. The city is also promoting projects to strengthen startups' capabilities at each stage, such as the "Gwangmyeong Innovation Startup Acceleration" program and the "Preliminary, Early, and Growth Startup Courses."
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