(image: Korea Bizwire)
SEOUL, Jul. 31 (Korea Bizwire) — In order to assist startups in the area of system-on-chip (SoC), the government has come up with a support system to help develop what is still a nascent field in South Korea.
The Ministry of Trade, Industry and Energy revealed the launch of a “support center for SoC” that would assist local talents in terms of entrepreneurship, technology development, and marketing.
SoC is expected to see rapid growth in the future when combined with other industries such as automobiles and biotech. But as of this year, South Korea was home to only one new startup company relating to SoC.
The center is expected to support entrepreneurs who come up with innovative ideas for new startups in the field of SoC.
Entrepreneurial candidates will be able to incubate their projects at the Korea Electronics Technology Institute’s SoC platform research center and receive guidance from industry experts as they test out the waters.
Technical know-how currently held by research institutions and universities will also be shared with the entrepreneurs.
A special fund of 200 billion won will be used to invest in new startups with a focus on SoC. The list of startups that the fund will be used to support is to be finalized next month.
Lee In-ho, the deputy minister of Trade, Industry and Energy said that the government will provide continuous support to ensure that local companies can develop cutting-edge technology in the field of SoC.
H. S. Seo (hsseo@koreabizwire.com)
