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image credit: The Gyeonggi Center for Creative Economy & Innovation (GCCEI)
‘Gyeonggi Center for Creative Economy & Innovation’ (hereafter Gyeonggi Innovation Center) has received the SMEs and Startups Minister’s Award in the Excellent Startup Support Institution category at the 2023 Private-Focused Early Investment and Startup Ecosystem Activation.
The award ceremony took place on December 19 at the ‘Early Startup Investor Summit,’ jointly organized by the Korea Accelerator Association and the Korea Early Stage Investors Association. It was an information exchange event attended by startup investment institutions responsible for the early stages of South Korea’s startup ecosystem. The event recognized individuals and organizations contributing to the activation of the early investment and startup support ecosystem through the ‘Startup Builders Awards’ program, awarding four ministerial awards.
Gyeonggi Innovation Center was established in 2015 with the goal of advancing the startup support ecosystem. In 2017, it was designated as a global expansion support center and has been active as a hub for domestic and international startups ever since. Since 2020, it has operated the startup zone established by the Ministry of SMEs and Startups, building a startup nurturing triangle in Pangyo Techno Valley along with the existing infrastructure of the Gyeonggi Center for Creative Economy & Innovation and Startup Campus. Leveraging these geographical advantages, the center actively performs its role as a platform for collaboration and coexistence among domestic and international startups, private companies, investment institutions, and others.
As a result, the center has nurtured 1,131 startups over nine years, establishing a system that encompasses the entire startup support process, including funding, talent, technology, and networking for substantial support. In 2022, it was selected as a tip and fund manager, enhancing its investment capabilities and focusing on supporting startup scale-ups through open innovation with large and medium-sized enterprises and global expansion support.
The Gyeonggi Innovation Center expressed its honor to receive the award, especially as it approaches the 10th anniversary of establishing the Creative Economy Innovation Center. They see the award as a recognition for all 19 centers they represent and convey gratitude to the staff of innovation centers nationwide.
Furthermore, they expressed hopes for active utilization of the Creative Economy Innovation Centers performing the role of startup hubs nationwide and emphasized collaboration between private accelerators and public accelerators to further activate South Korea’s startup ecosystem.