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  • First Prototypes Made in Yongsan Y-Valley

  • Economy & Investment News SMG 1558

    A total of three prototypes have been created as a result of the private and public joint program for start-ups owned by university students that was implemented for about 10 months, since August 2018, at Yongsan Sangsangga, a youth start-up innovation platform that had been established as an anchor facility for urban rehabilitation in Yongsang Y-Valley. Two of the three prototypes led to the foundation of businesses. Some students from Incheon National University, who developed a mask that blocks particulate matter for dogs, obtained the business license and applied for a trademark with the name of “Clab” while the students of Incheon Catholic University, who developed an app for sales of goods related to books, did the same under the name of “Good Deokhu.”

    The prototypes were developed not just for a simple contest, but through the Yongsan V-Valley Urban Rehabilitation Youth Entrepreneur Cultivation Project. The project introduced a growth-oriented start-up contest where the manufacturing of prototypes is supported so that participating students can start their businesses.

    The Yongsan Y-Valley Urban Rehabilitation Youth Entrepreneur Cultivation Project began as 10 excellent teams were selected in a Start-up Contest in August 2018. Three teams were finally selected through a Start-up Camp and four steps of support were provided for them, including concentrated mentoring by experts and the designing of prototypes.

    The city of Seoul will implement a variety of start-up programs together with the private sector, including start-up contests and support for prototype production, as part of the Yongsan Y-Valley Urban Rehabilitation Project. Additionally, focusing on Yongsan Sangsangga, which was established in April 2018 as the innovation foothold, the city will provide small start-ups with pioneering technologies and empty offices in the shopping centers in Yongsan. The city will also spend KRW 20 billion by December 2020 towards pump-priming projects with the purpose of restoring the urban industrial eco-system through supporting new businesses and cultivating new industries.