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According to Yonhap News,
On July 7, Daegu-si announced that it will discover and support 10 companies that will lead the ABB (Artificial intelligence, Big data, and Blockchain) industry this year.
Daegu-si said that it intensively fostered 13 companies including promising start-ups last year as ABB innovative companies, which resulted in a 12.1% increase in annual sales to KRW 108.8 billion (KRW 97 billion in 2022) and 3.4% rise in employment (921 in 2022 to 952 in 2023).
Accordingly, the city plans to select 10 ABB companies with high growth potential this year and actively support them in every stage of development.
The city will support up to KRW 100 million per company for R&D including core technology development and commercialization, and up to KRW 40 million to KRW 60 million per company for customized project budget. It will also support participation in PR sessions held overseas to attract investment there.
The ABB companies headquartered in Daegu, or plan to relocate their headquarters to Daegu within 3 months from being selected.
More details could be found on the website of Daegu-si and Daegu TechnoPark on July 8-August 2.
mshan@yna.co.kr
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Source: Yonhap News (July 7, 2024)
** This article was translated from Korean.