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Thursday,December 8,2022
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DU's Business Incubator Project Receives 5.1 billion Won
 On April 18th, Dongguk University (DU) received funding for the new town project that supports small businesses. The title for this project is ‘Business Incubator (BI)’ and was set up by the government’s Small and Medium Business Administration (SMBA) department. DU received 5.1 billion won in total - 3billion came from SMBA, 6 hundred million from Gyeonggi-do and 1.5 billion from Goyang-si.

 BI provides support to potential companies for up to 2 years. The idea behind this is to provide business support in order for companies to become successful by themselves.

 DU will build a “Business Incubator” for the biotechnology department at the Biomedical Science and Engineering Campus in Goyang-si. It will also play a leading role in the Goyang - medicluster: this area, which also encompasses Gyeonggi-do, aims to become the medical hub in East Asia.

 Trailing just behind KAIST, DU’s own BI took second place among the 165 universities chosen by SMBA. So, from April, 2010, the BI project for fledgling companies will start.

 Although biotechnology industry is enormously costly and time-consuming, the companies joining in this project will gain valuable business experience by learning to cooperate with the DU hospital. They will get the following benefits: learning how to collect funds from outside and carry out other

requirements for DU’s BI; getting assistance about making documents needed to achieve government’s approval. DU’s BI’s specific intention is expected to advance industrial technical knowledge.

 “Our BI that specializes in biotechnological will play an important role in advancing DU with Goyang - medicluster. Through this, we aim to become the Mecca of the domestic BT industry,” said Rhee Jong-tae, head of the Educational-Industrial Technical Cooperative Center.

                                                                                                By Bak Je-jun, Cub Reporter

 

Bak Je-jun, Cub Reporter  jun09@dongguk.edu

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