Jeju Creative Economy Innovation Center (CEO Lee Byeong-seon, hereinafter referred to as Jeju Center) announced that it is recruiting companies to participate in the global open innovation program 'Open Island: Poof Lab in Taiwan' for promising domestic startups to advance into the global market. Recruitment will be held until the 4th of next month (August).
This program, 'Open Island: Proof Lab in Taiwan', aims to increase the possibility of verification and expansion of domestic startups into overseas markets through proof-of-concept (PoC) projects with local Taiwanese companies under the vision of 'Open Island', which means 'an open Jeju startup ecosystem connected to the world'.
In particular, Taiwan is highly regarded as an important bridgehead and testbed for entering the Asian market. The Jeju Center plans to support startups to directly demonstrate their innovative technologies and services (PoC) in Taiwan and closely understand the characteristics and demands of the local market, thereby laying the foundation for successful overseas expansion.
This program is the first project to be carried out based on the business agreement signed between Jeju Center and SparkLabs last month. SparkLabs Taiwan will directly diagnose the applying companies on site and match them with suitable local partners based on the diagnosis results to help connect practical PoCs.
Sparklabs Korea will also provide support. The two companies selected will be provided with expert mentoring to strengthen their capabilities in advance, and will systematically support their preparation for global expansion and establishment of localization strategies.
The recruitment target is startups that have been in business for less than 10 years and have AI or ICT-based technologies and solutions. Priority will be given to companies with high potential for technology application to Taiwan's core industries such as manufacturing, communications, electronics, and industrial automation.
The final selected companies will receive various local practical support such as ▲a portion of the PoC verification cost and local living expenses ▲partner connection and meetup operation. In addition, they will gain long-term growth opportunities such as ▲registration as a childcare company in Jeju Center ▲linkage with TIPS and follow-up investment programs.
A Jeju Center official said, “This ‘Open Island: Poof Lab in Taiwan’ is a practical program that verifies in the actual local market and secures opportunities to grow into a wider global market,” and added, “We look forward to the interest and participation of many startups with innovative technologies and business models.” Detailed announcements can be found on the Jeju Creative Economy Innovation Center website.
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