GWANGJU < invest Korea

According to Yonhap News,

The city of Gwangju and the Artificial Intelligence Industry Convergence Committee (AIICC) reached a consensus to funnel KRW 8.4 billion into running a biz-support package to help locally based companies start and scale up business. Under sponsorship from the Ministry of Science and ICT (MSIT) and AIICC, the city has begun to run a KRW 54.5 billion worth of startup accelerator program, which comes to an end in 2024, since last year, a city official said on Mar 19.

The program largely entails a startup challenge, a competition where (would-be) entrepreneurs convene to pitch their products and services to a team of expert judges, product development and biz-consulting services to relax the level of legislative scrutiny etc.

By hosting an investment pitch event to find sources to raise funds or international conferences, the city agreed to share more information on the latest industry trends and outlook, while providing better access to user experiences on products and services developed by locally based startups.

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Source: Yonhap News (Mar 19, 2021)