DAEJEON < invest Korea

According to Yonhap News,

The vicinity of Gung-dong, Yuseong-gu, located between Korea Advanced Institute of Science and Technology, KAIST and Chungnam National Unniversity, in the city of Daejeon is rising under the spotlight as a Silicon Valley like startup town and the center for tech entrepreneurship. The city said a new startup town, named Town D, for young entrepreneurs opened on Apr 23 in a nearby neighborhood in Gung-dong. Spending nearly KRW 4.7 billion in total since 2018, the city has built up the towns as a primary destination for tech startups.

Two of them, which opened last year, have successfully attracted eight startups, who’ve reached KRW 5.8 billion in sales and added 47 new jobs. They’ve even attracted investments, worth KRW 2 billion thus far.

Another tech startup town, TIPS, located inside Chungnam University, have completed the entire process to let tenant companies come in and is reported to get fully ready for operation from next month.

TIPS, an acronym which stands for Tech Incubator Program for Startup, will take the role of pump primer, providing a support package such as running a startup challenge contest, matching private-public research projects to further promote the youth entrepreneurship in town.

With KRW 35 billion, an amenity building (3F, B4) near the startup towns will also be established on a 14,000㎡ site, near Gung-dong parking space by the end of June 2023.

Source Text

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source:Yonhap News (Apr 23, 2021)