Busan Port Authority selects three new companies for ‘1876 Busan’ platform

Busan Port Authority (BPA) announced on the 7th that it had selected three new companies to move into '1876 Busan', a shipping port start-up support platform.

'1876 Busan' is a support platform operated by the Busan Port Authority, Busan City, and Korea Ocean Business Corporation from 2022 to strengthen the competitiveness of early start-up companies.

The three companies newly selected this time are Xylo Labs, which analyzes port crane facility status and operation status and has early detection technology through artificial intelligence (AI), Uncommon Labs, which has artificial intelligence-based smart port operating system and software technology, and Cargo Tree, which has a multinational logistics arrangement platform based on artificial intelligence.

Companies moving into the platform receive support such as office space rent exemption, customized counseling for each company, technology development consulting and commercialization support, and investment linkage.

Newly opened companies this time will also have the opportunity to demonstrate on-site at Busan Port.

It is expected that tenant companies will be able to directly participate in various research and development projects with the Busan Port Authority and gain opportunities for rapid commercialization through technology verification at actual port sites.