-The Bucheon Industry Promotion Agency plans and operates a wide range of programs, including support for technology development, marketing, market expansion, and participation in exhibitions and trade fairs for small and medium-sized enterprises
-As the lead organization for the Startup Scale-Up Package in the western Gyeonggi region, the agency has continuously implemented the program for over ten years since 2016 and was selected as an Outstanding (S-grade) institution for two consecutive years (2022–2023)
-Through more than ten years of managing the Startup Scale-Up Package support program, the agency has secured extensive operational know-how as well as the expertise of dedicated program management staff
-In September 2025, an intensive investment-linkage event was held, bringing together 10 companies and 12 investment firms for direct meetings, thereby maximizing the potential for investment attraction
-Through collaboration with a cooperative consortium (27 organizations), the agency operates high-quality programs in areas such as investment attraction, global expansion, marketing, mentoring, and networking events
Dong-hak Shin, President of the Bucheon Industry Promotion Agency, emphasized, “The Bucheon Industry Promotion Agency supports the formulation and implementation of Bucheon City’s industrial development and small business support policies”, adding, “We plan and operate a wide range of programs, including support for technology development, marketing, market expansion, and participation in exhibitions and trade fairs for small and medium-sized enterprises. This is complemented by expanding financial resources for corporate support through the acquisition and operation of national and provincial government-funded projects, such as the Startup Scale-Up Package support program and technology development for daily-life support service robots.”
“The Bucheon Industry Promotion Agency has continuously implemented the Startup Scale-Up Package support program promoted by the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development as the lead organization for the western Gyeonggi region for over ten years since 2016. It was selected as an Outstanding (S-grade) institution for two consecutive years (2022–2023) in the evaluation of managing organizations for the Startup Scale-Up Package, and has also received ratings of Excellent (A-grade) or higher every year, thereby gaining official recognition for its operational capabilities and performance. Over the past three years (2022–2024), the program has supported 110 companies, achieving total revenue of KRW 289.9 billion, investment attraction of KRW 34.9 billion, and new employment for 1,016 people, and is currently being implemented with 37 companies selected for the 2025 program.”
What was the biggest issue in the 2025 program?
“In September 2025, we held the ‘2025 Startup Scale-Up Package Support Program IR Demo Day’ for two days at Shilla Stay Samsung in Seoul, hosting an intensive investment-linkage event where 10 companies and 12 investment firms met directly. This structure, which combined company-specific business model and growth strategy pitching with one-on-one investment consultations and networking, was designed to maximize the potential for investment attraction and can be regarded as a key feature of the 2025 program. Looking at the list of companies that participated in the 2025 IR Demo Day, a notable feature was the significant increase in the proportion of deep tech, ESG, and healthcare companies, including carbon accounting platforms, motor energy-saving solutions, carbon capture absorbents, senior care digital humans, and customized silica manufacturing platforms.
This shows that the portfolio is shifting from a traditional ICT and platform-centered focus toward areas with strong policy and large enterprise demand, such as carbon neutrality, energy, and healthcare. The 2025 event is evaluated as a year in which positioning was strengthened from a business commercialization funding-centered approach to an ‘investment-linked scale-up platform’, serving as ‘a venue for verifying growth potential and discussing investment decisions through direct meetings with investors’. This can be regarded as the structural issue of 2025, in that investment linkage, collaboration with large enterprises, and ESG integration are highly likely to continue as core keywords in the design of the Startup Scale-Up Package program going forward.”
“The strengths of the Bucheon Industry Promotion Agency lie in the operational know-how accumulated through more than ten years of managing the Startup Scale-Up Package support program, the expertise of dedicated program management staff, and the establishment of a local startup infrastructure through the operation of innovative startup spaces such as Ground21 and Makerspaces. In addition, the operating budget for the Startup Scale-Up Package program is allocated between commercialization support funds for startups and operating expenses for the managing organization, with more than 40% of the managing organization’s operating budget allocated to the operation of startup support programs. Through collaboration with the cooperative consortium (27 organizations) held by the Bucheon Industry Promotion Agency, we operate high-quality programs in areas such as investment attraction, global expansion, marketing, mentoring, and networking events, thereby securing a relative competitive advantage for our support programs.”
What criteria are used to evaluate and select companies for the Startup Scale-Up Package?
“The Startup Scale-Up Package support program selects prospective companies through document screening and presentation evaluations, targeting startups that have been in operation for more than three years and less than seven years. The evaluation criteria include problem recognition related to the startup item, feasibility, growth strategy, and the capabilities of the CEO and team members. Factors such as how objectively the entrepreneur has analyzed the target market and how concrete the implementation plan for the startup item is are evaluated in a systematic and comprehensive manner through evaluation committees composed of external experts and standardized evaluation indicators to ensure fairness. After the evaluation is completed, selected prospective companies undergo a review of eligibility requirements, such as the duration of business operation (years in operation), and are then finally selected as supported companies.”
“Selected companies may freely utilize the allocated startup commercialization funds (an average of approximately KRW 130 million per company) for various purposes, including technology development, prototype production, marketing, patent applications, and labor costs. In addition, they can receive support through startup growth programs operated by the managing organization.”
Can you name a successful case among the Startup Scale-Up Package companies?
“Among the companies supported by the Startup Scale-Up Package, a representative success story is Company A. Company A is a biotechnology company specializing in the development and manufacturing of cell culture media, a core material for advanced biopharmaceuticals represented by cell therapies, and has developed the ‘world’s first serum-free chemically defined culture medium’. Selected for the Startup Scale-Up Package in 2019, the company signed NDA and distribution agreements with Company P, a German biotechnology firm, through support such as commercialization funding and global expansion programs, and achieved the highest grade in the final performance evaluation. After the completion of the program, the company rapidly expanded high-quality domestic and international demand through continuous customer-tailored technology development and the expansion of production facilities and workforce, and is also pursuing diversification of items to expand its cash cow. In addition, in 2022, the company signed a strategic business agreement with Company H, a domestic natural materials development company, and in late October 2023, approximately eight months after filing for a listing review with the Korea Exchange, it was recognized for its growth potential and successfully achieved a new listing on the KOSDAQ on July 15, 2024. These achievements of Company A can be regarded as a representative example demonstrating the effective utilization of startup growth-stage support programs and the company’s potential for sustainable growth.”
What programs are available to help companies expand globally?
“The Bucheon Industry Promotion Agency operates a global expansion program called ‘Global Expansion Scale-Up’ as part of its role as the managing organization for the Startup Scale-Up Package. It has been operated since 2019 through collaboration with EC21 Co., Ltd., a top domestic company in the field of overseas market development, and over seven years through 2025, it has supported a total of 67 companies, achieving outcomes including the identification of 230 potential buyers, two NDAs, two export contracts, eight MOUs, and 68 sample exports. Support includes pre-consulting for entry into preferred markets (countries) during the program period, verification of product–market fit (PMF, Product Market Fit), opportunities for face-to-face consultations with local buyers, and coverage of local stay expenses (round-trip airfare for one person per company, accommodation, transportation, interpretation costs, etc.), and even after the program concludes, follow-up support is provided in response to company requests, including handling feedback related to matched buyers. This program will continue to be operated with ongoing improvements, reflecting the feedback of participating startups collected through pre- and post-program (demand) surveys.”
“The Bucheon Industry Promotion Agency has established a co-investment support system by leveraging the Bucheon Venture Fund (total fund size of KRW 158.1 billion) and its network of investment institutions, with the aim of discovering and attracting promising startups within Bucheon City and fostering star companies through equity investment. Within the Startup Scale-Up Package support program, participating companies are provided with IR strategy consulting and IR deck preparation to promote investment attraction, as well as stage-specific IR demo days, in-depth consultations matched with investment institutions, and support for follow-up investment meetings, thereby facilitating investment attraction that can lead to actual investments.”
What are your goals for 2026?
“The Bucheon Industry Promotion Agency will focus on discovering and nurturing promising deep tech and AI-related companies in line with recent startup support policy directions. We are also working to strengthen global expansion support capabilities, improve collaboration structures for self-funded investment funds and investment consortia, and expand startup support facility (space) infrastructure to build a stage-by-stage support system for startups. In 2026, we will drive revenue growth, job creation, and global expansion by leveraging years of operational know-how from the Startup Scale-Up Package program, as well as our networks and infrastructure, and by operating advanced growth acceleration programs. In particular, we aim to actively support the emergence of unicorn companies.”
reporter jinho lee
jinho2323@hankyung.com
© 한경매거진&북, 무단전재 및 재배포 금지