Gyeonggi-do Agency to Provide 3.16 Billion Won to 43 Star Companies...Up to 80 Million Won Per Firm

The Gyeonggi-do Economic and Science Promotion Agency will recruit 43 companies to participate in its 'Star Company Development Program' until March 5.

The Star Company Development Program is a support program that discovers small and medium-sized enterprises (SMEs) with high technological innovation and growth potential, and provides intensive support so that they can grow into strong small and mid-sized companies.

The agency will provide a total of 3.16 billion won to 43 companies across 9 projects in 3 areas: product innovation, market development, and smart innovation.

The support limit varies depending on the location of the company. Companies located in 10 regions including Yongin, Hwaseong, and Seongnam that participate in provincial fund matching are eligible for up to 80 million won, while companies located in other cities and counties are eligible for up to 42 million won.

Recruitment Poster for Companies to Participate in the "Star Company Development Program" by Gyeonggi-do Economic & Science Promotion Agency

Eligible applicants are SMEs with their headquarters or factories located in Gyeonggi Province and operated for at least three years, with in-house research institutes or dedicated research and development departments, and with annual sales of at least 5 billion won but less than 70 billion won.

Companies wishing to participate can apply through the Gyeonggi Enterprise Secretary (www.egbiz.or.kr) website until March 5.

Han Sangdae, Head of the Scale-up Division at the Gyeonggi-do Economic and Science Promotion Agency, said, "The Star Company Development Program is a core program that fosters promising SMEs in the province into global strong small and mid-sized companies," adding, "This year, we have increased the amount of support and enhanced tailored support programs, and we will do our best to help companies grow further."

Last year, the agency selected 52 companies and supported a total of 181 projects.