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Writer Invest Seoul Day18-07-20 17:13 View494


'Seoul Startup Hub' Fosters 616 Startups and Attracts Investment Worth KRW 14.5 Billion



Seoul Startup Hub, the core of the Seoul Metropolitan Government's Startup support policy and the biggest incubation administration in Korea, just celebrated its one-year anniversary since its establishment ('17.6.21.).

During the last year, the Hub has successfully fostered 616 startups through its stage-based customized incubation system. The startups, selected after prevailing in a fierce competition with 7 to 1 odds, have created 561 job openings, accomplished sales of KRW 17.6 billion, and attracted investment of KRW 14.5 billion (28 startups). 109 intellectual property rights including patents, designs and trademarks were also registered during the past year.


‘Seoul Startup Hub’ is aiming to make a great leap forward to become the center of the global startup ecosystem through wide-ranging cooperation with domestic and overseas partners. The hub not only will cooperate with the 43 startup support institutions in Seoul, but also will work with administrations and accelerators in the U.S., Europe and Asia to jointly promote global market development and investment attraction support programs.


To celebrate Seoul Startup Hub’s successful year of developing into the pivot of Seoul’s startup ecosystem, Seoul Metropolitan Government hosted the ‘Hub’s 1st Birthday Party’ on June 21st (Thu), at which various players in the startup ecosystem including startups, large enterprises, SMEs, job seekers and potential entrepreneurs were gathered. ‘SR (Sales-Relations Festival),’ a one-on-one business interaction event which connects startups with large enterprises and SMEs looking for new technologies to invest in, took place at the party, along with ‘Hub Meeting,’ which matches job seekers with startups. A live visual show of SBS’s <Escape with Cul-Two>, a popular radio program, also was held at the Hub.


“Seoul Metropolitan Government will enhance cooperation with various targets of startup support including the central government, private institutions and specialists, and plans to promote customized support for entrepreneurs and markets with ‘Seoul Startup Hub’ playing the central role,” commented Tae-woong Gang, the Head of Seoul Economic Planning Headquarters, adding, “We will strive to make Seoul Startup Hub ‘the Hub of the global startup ecosystem,’ and help Seoul become an ideal place for the innovators from around the world to establish startups, making the city the cradle for 'unicorn' companies.”


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