DAEGU < invest Korea

According to Newsis,

The city of Daegu picked out 15 locally based promising small and mid-sized businesses anticipated to create added-value and jobs into the community economy, a city official said on May 26. The selection is part of the municipal business support projects designed to help startups or SEMs showing growth potential get off the ground for scale up, which later on inspired the Ministry of SMEs and Startups to lay out the same support program widespread across the country since 2018.

26 SMEs have been selected at the first stage of screening process early this year, and the 15 of them have finally put their names onto the shortlistees going through multiple selection steps.

The average sales figure of this year’s nominees are reported to total nearly KRW 17 billion with 58 new jobs. The trade share proved to be 17%, and the average percentage of growth and employment rate over the course of three years was 15% and 12.3% respectively.

These SMEs and startups have mostly been played pivotal role in bringing vigor into the community economy, taking the lead in artificial intelligence technologies, mobile games, semiconductor and automated manufacturing equipment (smart machines) and functional textiles.

Those chosen this time include KYCLOTH CO., LTD, Gubi Tech Co., Ltd, GungJeongBang, Daeyoung R&T, DK-Korea, Mechasolution, Bokuk, Seonbi Tech, Are-Tech, Angel Games, Winitech, ieetu, Jinbu, TCL and Korea Alpha System Co., Ltd. These candidates are also entitled to be given a package of support programs such as business consulting services by each growth state, R&D solutions and other types of financial aid packages, equivalent, in value, to KRW 200 million (up to two years) to help proceed research and development projects following an assessment process.

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Source:Newsis (May 26, 2021)