Gyeonggido Business & Science Accelerator Discusses Startup Cooperation Initiative Centered on Pangyo Techno Valley with India’s Economic Visiting Group

Gyeonggido Business & Science Accelerator (President Kang Seong-cheon, hereinafter referred to as GBSA) discussed ways to introduce and share the Gyeonggi-do startup environment centered on Pangyo Techno Valley with the Trade Promotion Agency of the Ministry of Commerce, Industry and Energy of India at the Pangyo Techno Valley’s Startup Campus on October 19.

Ten people attended, including the Director of the Trade Promotion Agency of the Ministry of Commerce, the Deputy Minister of Investment Planning of the State Government of Arunachal Pradesh, a northeastern part of India, the Principal Secretary of the Department of Industry of the State Government of Himachal Pradesh, a northern region of India, and other officials from the Indian association.

The visit of the Indian delegation is part of the cooperation initiatives that followed the visit of Kim Dong-yeon, the governor of Gyeonggi Province to the Indian Ministry of Commerce and Industry in July 2023. The visiting delegation experienced Korea’s startup environment around Pangyo Techno Valley, the largest startup business hub in Korea, heard examples of the best practices in startup business support programs, and discussed opportunities for cooperation with Indian startups.

On that day, GBSA presented a startup cluster at Pangyo Techno Valley. The Indian delegation asked questions about the government’s role in the growth of startups and the direction and policies of the accelerator programs. GBSA then shared examples of startup companies in Pangyo Techno Valley entering the global market.

The delegation then toured the startup campus, saw the office spaces of companies and business support organizations, and was introduced to startup business support programs. In particular, the delegation met with Indian startup founders participating in the “K-Startup Grand Challenge” program, an event in which startup companies participate with the support of the National IT Industry Promotion Agency (NIPA).

“India has the third largest number of startup companies in the world and a population of 1.4 billion,” said Kang Seong-cheon, president of GBSA. “For companies in Gyeonggi-do, entering the Indian market will be a great achievement, so we hope that cooperation for startup business between Gyeonggi-do and India will continue in the future.”

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