The Ministry of Land, Infrastructure, and Transport (Minister Won Hee-ryong) is a smart city startup idea with a 'startup investment company' to discover and support seed companies (pre-founders) and sprout companies with innovative technologies and services related to smart cities. Public competition' and 'next innovative technology demonstration project' were announced.
The Ministry of Land, Infrastructure, and Transport is promoting support projects for each stage of growth of smart city and urban tech* companies. Following the “Innovative Technology Discovery Project” in January and the “Idea Contest” announced in June, Promote the next innovative technology demonstration project ** contest.
* Urban Tech: Technology that solves urban problems for urban sustainability
** Next Innovative Technology Demonstration Project: Matching demonstration areas and supporting demonstration project costs to support sprouting companies (within 21 years of establishment) that are having difficulties due to lack of demonstration opportunities since '5
<Smart City Startup Idea Contest with Vendors (8.8~9.2)>
The purpose of the Startup Idea Competition is to discover entrepreneurial ideas with business potential with a startup investment company* with a willingness to discover and invest in prospective startups in the smart city field and link startup support programs.
Five start-up investment companies* will participate, and a total of 5 teams will be selected with 2 teams each, and the 10 teams with the 1st prize will be awarded 5 million won each, and the 5 teams with the 2nd prize will receive a prize of 5 million won each.
* Korea Investment Accelerator, Korea University Technology Holdings, Ensle Partners, Korea Value Investment, Pen Ventures Korea
Selected teams are provided with start-up programs and occupancy spaces for start-up investment companies, and recommendations are also provided for the TIPS (Private Investment-led Technology Startup Support) program*.
* TIPS (Tech Incubator Program for Startup): A program in which the government provides matching support (up to KRW 7 million) in R&D and start-up commercialization funds, when the TIPS operator invests, fosters, and recommends a promising start-up company.
Individual preliminary founders in the smart city field or a team of up to 5 people can participate, and submit an urban problem-solving start-up idea* through the smart city by e-mail.
* All topics that can contribute to the city's competitiveness and living convenience, such as improvement of citizens' lives, education, environment, healthcare, and public security, are possible, but ideas with low relevance to smart cities such as smart farms and smart factories are excluded.
The application period is from August 8.8 to September 9.2. After selecting twice (2) of the final selection team through preliminary screening, a startup commercialization plan is prepared through consulting of startup investment companies and experts, and the presentation and evaluation of the startup commercialization plan is finally selected through
<Next Innovation Technology Demonstration Project (8.22~9.16)>
Next demonstration project to support technology promotion and market development by providing young companies with innovative technologies and products in the smart city field an opportunity to verify the performance and effectiveness of technologies and products, You can apply by forming a consortium with local governments and public institutions.
* Submission of desired customers and demonstration sites (within 2 places) in the business application form, and a briefing session and networking opportunity between the demanding party and the applicant company are scheduled
We plan to select 8-10 technologies and support a total of KRW 1 billion in demonstration costs around KRW 6 million per technology. It is expected.
The application period is from August 8.22nd to September 9.16th, and 1.5 times (12 to 15 companies) of the final selected technology will be selected through written evaluation of the business plan, and final selection will be made through presentation evaluation.
The start-up idea contest and the final evaluation of the next innovative technology demonstration project will be held at the 'Smart City Incubating Center*' located in Techno Valley in Dongtan District 2 at the end of October. .youtube.com/user/korealand) will be broadcast live.
* Space to support start-ups, distribution and sales, and market development of smart city sprouts (scheduled to move in in September)
More details about this competition can be found on the Korea Agency for Infrastructure Technology Advancement (KAIA) website (www.kaia.re.kr) and smart city website (smartcity.go.kr) from July 7.14th.
☞ (Press release) Support for smart city seed and sprout companies to discover ideas and technologies