The Ulsan Center for Creative Economy and Innovation (Director Kim Heon-seong, hereinafter referred to as the Ulsan Center) announced the launch of the "Build up Strategy for Startups (BuS)" program (hereinafter referred to as Startup-BuS), which will provide rapid and consistent support from seed investment to follow-up investment for startups in 10 ultra-gap sectors, including shipbuilding, marine, eco-friendly, and energy. Startup-BuS, which was piloted last year by five creative centers (Gyeonggi, Incheon, Chungbuk, Ulsan, and Gwangju), including the Ulsan Center, will be expanded this year with the addition of three new centers (Gangwon, Gyeongnam, and Jeju), for a total of eight centers.
Startup-BuS aims to discover promising local startups and provide rapid support, including seed investment within 3 months, TIPS within 6 months, and follow-up investment within 12 months. Unlike typical startup support programs with a set application period, applications can be submitted year-round through the Ulsan Center website.
The Ulsan Center conducts an initial review of submitted applications, and only those startups that pass the IR and investment process will proceed. Ultimately, startups discovered through the Ulsan Center's Startup-BuS program and successfully attracting direct investment will receive support for rapid value-up through the Startup-BuS Fast Track.
Additionally, in April, July, and September of this year, eight Changgyeong Centers will hold joint investment briefings to showcase startups selected and nurtured locally through the Startup-BuS program to domestic and international investors. This joint forum for investment professionals is expected to expand opportunities for promising local startups to receive support, including follow-up investment.
Meanwhile, the Ulsan Center has begun full-scale operations by opening the 'Ulsan Startup Hub,' a regional startup incubation facility, and is continuously expanding the qualitative and quantitative infrastructure for fostering regional deep-tech startups.
An Ulsan Center official stated, "Through Startup-BuS, we plan to actively support promising local startups to achieve rapid growth and commercialization competitiveness. Furthermore, we will operate year-round recruitment to ensure more startups have access to investment opportunities."
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