2nd Pangyo Venture Town Partners with Private Sector to Develop a 'Unified Ecosystem'

Korea Venture Business Association, Sogang University, and Station K Sign MOU
Aiming to Create a Unified Platform for IR, Demo Days, and More

The Korea Venture Business Association announced on October 22 that it had signed a "Joint Cooperation Agreement for the Activation of a Private-Led Venture and Startup Ecosystem" with the Sogang University Industry-Academic Cooperation Foundation and Station K, which are the three consortium venture and startup incubation and operation agencies of the 2nd Pangyo Technovalley Venture Town, at Gyeonggi Startup Bridge in Seongnam, Gyeonggi Province.

This cooperation was established to develop the 2nd Pangyo Venture Town into a unified ecosystem through mutual linkage and joint program operation among the three operating agencies. The three institutions plan to launch the "Venture Town Operating Agency Council" (tentative name) and jointly promote various cooperative projects, including venture town branding and publicity, integrated IR and demo days for resident startups, policy proposals, and regulatory improvements.

The 2nd Pangyo Technovalley Venture Town is an innovative cluster where anchor companies in advanced industries and the startup ecosystem converge. It has been established as a privately-led startup innovation platform that supports the entire process from founding to global expansion.

Each consortium in the Venture Town G1, G2, and G3 blocks is required to provide at least 30% of the total floor area as startup space free of charge for 10 years and to operate growth support programs such as incubation, investment, and education for resident startups.

A representative from the Korea Venture Business Association said, "By combining the expertise and resources of the three institutions, we will create the best growth environment where resident venture companies can achieve tangible results."