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INNOPOLIS Foundation to Fund KRW 12.4 Bn to Regional R&D Zones

According to Yonhap News,

(DAEJEON=Yonhap News) The INNOPOLIS Foundation announced that it will fund additional KRW 12.4 billion in the second half of this year to foster regional Innopolis, specialized areas for research and development.

Innopolis is designated in accordance with a special act to commercialize achievement from national research and development activities. Current Innopolis are located in Daedeok in Daejeon city, Gwangju, Daegu, Busan, and North Jeolla.

Each Innopolis is scheduled to fund KRW 10.8 billion to commercialize projects of companies which received technology from public research institutes, and KRW 1.6 billion to startups which attracted outside investment.

Along with the project, the foundation will hold the 'Innopolis technology expo' in October to consult on transfer of promising technologies of the five Innopolis.

Eligible beneficiaries of the funding project are staff of companies and research centers which received public technology; prospective entrepreneurs and colleges planning to start technology businesses; and organizations which have technology including government-funded research institutes.

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Source Text

Source: Yonhap News (Jul. 26, 2016)
** This article was translated from the Korean.