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| Seen is a C-Lab Outside office space created by Samsung Electronics to support startups in North Gyeongsang Province. Samsung opened the office space at Yeungnam University in the North Gyeongsang provincial city of Gyeongsan, Thursday. Courtesy of Samsung Electronics |
By Baek Byung-yeul
Samsung Electronics is making efforts to foster startups related to manufacturing businesses in North Gyeongsang Province as part of its aim to improve diversity in the country's startup ecosystem, away from the concentration in the Seoul capital area, the company said Thursday.
Samsung said it launched C-Lab Outside program inside Yeungnam University located in the North Gyeongsang provincial city of Gyeongsan to assist local startups in developing their businesses.
The Gyeongsan startup support program is jointly launched by Samsung and North Gyeongsang provincial government.
"Following Daegu in February and Gwangju in March, Samsung Electronics is accelerating the expansion of the startup ecosystem in the local area by introducing a series of C-Lab Outside programs. Through these efforts, the program is expected to revitalize the local economy and create high-quality jobs and further contribute to the balanced development of the nation," Samsung said.
To provide better support to startups, Samsung signed a memorandum of understanding with the North Gyeongsang provincial government, Yeungnam University and Gyeongbuk Center for Creative Economy & Innovation.
Under the agreement, Samsung will be in charge of the overall operation of the C-Lab Outside program, North Gyeongsang provincial government. Yeungnam University will provide workspaces for startups and Gyeongbuk Center for Creative Economy & Innovation will focus on discovering local startups with high growth potential.
Startups chosen by the C-Lab Outside will be able to receive funding of 100 million won ($76,153), working space, consultation to scale up their businesses and opportunities to take part in IT-related exhibitions.
Five startups have already been selected through this program. Their business area is LIDAR sensors, robot reducers, wireless power transfers, metal surface printing and recycled magnetic materials.
"It is reassuring that Samsung becomes a partner of many startups in North Gyeongsang Province," Lee Cheol-woo, governor of North Gyeongsang Province, said during the opening ceremony. "North Gyeongsang Province will do its best to help many startups grow into global unicorn companies."
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