Seoul City Recruits 25 Companies for Magok/Changdong Startup Hub

The city of Seoul is recruiting 25 startup space companies for technology startups and culture and content startups that wish to collaborate with large corporations.

Seoul Startup Hub M+ (Magok-dong, Gangseo-gu) will recruit 21 companies, and Seoul Startup Hub Chang-dong (Dobong-gu) will recruit up to 4 companies.

In addition to independent office space, tenant companies are provided with growth support programs such as investment, commercialization, cooperation between companies, and overseas sales channel development.

Seoul Startup Hub M+, located in the Magok Industrial Complex, is a base that supports technology exchange, joint development, and business cooperation among startups by utilizing the industrial base where large corporations and research institutes are concentrated.

Companies in five fields are eligible for recruitment: information technology (IT), biotechnology (BT), green technology (GT), nanotechnology (NT), and research and development (R&D).

Companies established less than 7 years ago can apply, and new industries can apply up to 10 years established. Applications can be made on the Startup Plus website by the 13th.

Seoul Startup Hub Changdong is a space for start-ups in the cultural and creative industries, and is equipped with 30 independent offices and content production infrastructure.

Chang-dong, which is recruiting up to four new companies from the 16th to the 30th, will give 3 additional points to companies in the new media and creative industries.

The two startup hubs have also achieved growth results for resident companies.

Magog M+, which opened in 2021, has fostered 387 startups to date, recording cumulative sales of 257.5 billion won and investment attraction of 215.5 billion won. Changdong, which opened in the same year, fostered 186 companies and achieved cumulative sales of 171.6 billion won and investment attraction of 34.2 billion won.

Companies wishing to move in can check the recruitment announcements for each facility on the Startup Plus website (www.startup-plus.kr) and then apply online.

Kim Hyun-woo, head of the Seoul Metropolitan Government's economic office, said, "We will expand growth opportunities for startups by utilizing Magok's cooperation base with large corporations and Changdong's cultural and creative industry support infrastructure," and added, "We will support companies' technologies and ideas to lead to investment attraction, business cooperation, and market entry."