Pangyo Techno Valley‘s Startup Campus achieved new sales of KRW 12.9 billion in 2023 by discovering and accelerating new startup companies in Gyeonggi-do.
The Startup Campus, operated by the Gyeonggi-do Provincial Government and Gyeonggi Business & Science Accelerator (GBSA), was established in Pangyo Techno Valley in 2017 and is an organization that intensively nurtures new tech companies and young entrepreneurs who will lead the industry of the future. The Startup Campus nurtures a total of 60 companies at every stage of business (pre-startup, early stage, investment attraction, growth and global expansion) and provides various support programs.
The Startup Campus not only provides office space to startup companies but also offers consulting and training programs, investment attraction events, cooperation programs with other public organizations, and networking events. Through these programs, Startup Campus listens to the difficulties of entrepreneurs and provides them with an open space for human networks in the startup ecosystem.
As a result of Startup Campus’ multifaceted support for tech startups, the new sales of Startup Campus companies reached KRW 12.9 billion from January to September this year, creating 48 jobs and attracting KRW 2.7 billion in investment.
Ordinary Magic, Co. (CEO Heo Cheong-ha), which operates a subscription platform based on the developmental stages of infants, attracted 700 million won in investment this year. Eco&Rich, Corp. (CEO Jeon Jin-hoon), which produces digital dental prostheses, attracted 200 million won in investment from Korea University Technology Holdings Co., Ltd. and achieved about 1.3 billion won in new sales. VEStellaLab, Inc. (CEO Jeong Sang-soo), which develops an IoT-based parking navigation system, not only achieved sales of about 3 billion won but also expanded its business by signing memorandums of understanding with several companies in Indonesia, Saudi Arabia and Vietnam. In addition, GTWave Co., Ltd. (CEO Park Moon-soo), which develops a system to recover from terminal communication failures, recently signed a sales agent contract with GoldLink in the Philippines.
Jeong Han-gyu, head of the Advanced Mobility Industry Division of the Gyeonggi-do Provincial Government, said, “Pangyo Techno Valley is working as a hub for startup companies and a driving force for future industries and Korea’s economic growth. He continued, “I believe that if Gyeonggi Province continues to discover and nurture innovative startup companies in the future, Pangyo will serve as a springboard for business growth for aspiring entrepreneurs.”
GBSA is posting promotional videos with this year’s sales results and information about Pangyo’s startup companies on YouTube, as well as publishing booklets and distributing them on the “Gyeonggi Startup Platform” website. GBSA also distributes booklets to venture capital companies, accelerator companies, other venture companies, and large corporations in Pangyo to help attract investment and promote startup companies.
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