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Daegu city to pick out 5 startups to help scale up

According to Yonhap News,

The city of Daegu and Creative Economy Innovation Center Daegu Office will jointly run a business support program, what’s called ‘Start Venture Support Program’, which literally aims to pick out five tech-startups and to help them scale up. Starting from Mar 16 to the end of this month, both find potential candidates to work with via the city’s startup hub, DASH, and provide business consulting service and personalized guide optimally suited to each company.

In order to help the candidates grow into promising hidden champions and be chosen as the startup ministry’s ‘baby unicorn’, an early stage top tech startups to join the list of unicorn companies with a valuation over USD 1 billion, the city government will systematically pave the way for business growth.

Startups who’ve once been financed over KRW 200 million or funded over KRW 300 million by VC underwriters and hit less than KRW 3 billion in sales in the year the business begins, and those staying for less than seven years are entitled to submit the application form.

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Source: Yonhap News (Mar 15, 2021)

** This article was translated from Korean.