Gyeonggi Center for Creative Economy & Innovation (President Kim Won-kyung, hereinafter referred to as “GCCEI”) signed a Memorandum of Understanding (MOU) with Hive Colab, headquartered in Kampala, Uganda, to innovate the business environment for startups in both countries. The MOU was signed on November 13 at the Startup Zone of the 2nd Pangyo Techno Valley.
“Hive Colab” is an organization that supports startup companies founded by young people in Uganda. Hive Colab provides office space and business consulting services to young startup companies and works closely with the Youth Startup Academy Uganda (YSAU), operated by Korea’s Ministry of SMEs and Startups and the Korea Small and Medium Venture Business Corporation.
Based on this agreement, the two organizations plan to establish a cooperative relationship and provide each country’s business acceleration and incubation programs to revitalize startup businesses in both countries. In addition, various activities are planned, such as exchanging business policies related to startup support and information on each country’s market, developing each other’s capabilities to support startup companies in both countries and planning joint ventures.
A GCCEI official said, “By taking this business agreement as an opportunity, we will be able to help Korean startup companies enter the African market more actively. We will do our best to establish cooperative relationships with Uganda and various African countries, transfer the know-how of our Korean startup cluster, and become a hub for global startup business.”
GCCEI, together with the Korea International Cooperation Agency (KOICA) and Inha University, has promoted an ODA (Official Development Assistance) project targeting Peru to share the know-how of the Korean startup cluster.
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