INNOX Co., Ltd. and the Gyeonggi Creative Economy Innovation Center announced on the 27th that they will be recruiting companies to participate in the 'INNOX Open Innovation 5th' until March 31st.
The INNOX Open Innovation Program, a strategic investment-based open innovation initiative that has been in operation for five years since 2022, is jointly promoted by both organizations. Its hallmark is its proactive approach of identifying promising startups and supporting them through a "first investment, then nurturing" approach. Over the past four years, the program has established a strong brand.
In this fifth round, approximately eight companies will be selected for preemptive investment totaling 2.6 billion won. Selected companies will be provided with various accelerator programs in addition to the investment.
Key areas of support include strengthening global capabilities, including support for participation in overseas challenge competitions and global exhibitions such as CES; infrastructure support, such as moving into the Innox Pangyo building; growth-linked programs, such as recommendations for the TIPS program, linkages with meetups between large and medium-sized companies, and business cooperation between affiliates; and customized development programs, such as one-on-one business model consulting and networking for each company.
Recruitment areas encompass five core industries: robotics (materials, components, and software), AI (physical AI, agentic AI, on-device AI, multi-modal AI), semiconductors (pre- and post-process materials and components), secondary batteries (next-generation battery materials), and future innovation industries (advanced IT, small and medium-sized enterprises, mobility, etc.).
Eligible for support are companies established within 7 years as of the application deadline, and startups seeking investment from Innox and the Gyeonggi Center for Creative Economy and Innovation can apply.
Over the past four years, the program has selected a total of 15 startups, providing strategic investment and support to enhance corporate value. These selected companies have achieved success both domestically and internationally, including winning CES Innovation Awards.
Innox is making direct and indirect investments through participation in the TIPS program operator consortium, investment in the mother fund's own fund, the Industrial Bank of Korea's Next Round and Next Rise programs, and KITIA's investment-linked R&D projects, and is expanding its investment in future growth industries such as AI.
An official from the Gyeonggi Center for Creative Economy and Innovation stated that they will support promising startups in securing market competitiveness based on their cooperative system with Innox.
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