Go to Main Content
T T

Economy & Investment News

  • The 5th Seoul Innovation Challenge for the Growth of Startups… Up to KRW 200 Million for Excellent Innovative Technologies

  • Economy & Investment News SMG 358

    The Seoul Metropolitan Government (SMG) will be holding the Seoul Innovation Challenge over the course of 10 months starting on March 16, being the first local government to use an open platform to solve urban problems and lead Industry 4.0 while discovering innovative ideas and technologies.

    Celebrating the 5th anniversary, Seoul Innovation Challenge has discovered 1,501 innovative technologies over the last four years. This year, not only AI and blockchain but drone technologies will be included in the category and actively supported.

    The SMG will be providing an R&D subsidy of up to KRW 200 million for 13 finalists. Furthermore, the SMG will continue supporting the growth of the startups by helping them with global leading companies to advance the technologies and offering them opportunities for expanding into global markets.

    The SMG will be actively supporting various opportunities for the cooperation between startups and large global companies so that the growth of innovative companies can be accelerated, making startups stably grow and enter overseas markets and large companies find innovative technologies in new industries.

    Any Seoul citizen, soon-to-be businessperson, university or SME (including international) that want to participate in the Seoul Innovation Challenge can visit the Seoul Business Agency website (www.sba.seoul.kr) and check the announcement before applying online by May 2.