(PowerKorea) Gwanak District is one of the 25 districts in Seoul. It faces Geumcheon District to the west, Dongjak District to the north and Seocho District to the east. The district probably is best known where Seoul National University, the most prestigious university in the country, is nestled. 

Using this excellent young think-tank infra, the district is spurring up its S Valley and Startup Valley projects with a goal to turn the district as the mecca of venture enterprises in the nation. Initiated 2 years and 9 months ago, the district so far has seen 9 startup infrastructure centers opened through cost-effective office rental and a variety of promotional programs.

The startup cafe on the lower ground flower of Nakseongdae station especially is run for everybody to join network, consulting and training programs while the 5 HERE-RO centers in Daehak-dong and Nakseongdae-dong are harboring 31 ventures related to AI, big data, biotech and smart health. 

The district is planning to increase the number of centers to 13 from the current 9 by 2022 alongside introducing cooperative startup spaces by working together with Seoul Housing & Communities Corporation, Korea Land and Housing Corporation, Korea Telecom and KB Financial Group. 

In 2019, the district joined hands with Seoul Techno Holdings, Bookook Securities, and Quantum Ventures Korea to raise investment fund followed by two more agreements with Seoul National University and Korea Telecom in 2020. As a result, it has become the first district to raise ‘in-district startup fund’ in the nation and the amount is 20 billion won (18 million USD).

Alongside opening centers and raising fund, the district is running various promotional events and programs such as demo day, CEO lectures, and startup network. The ventures within the district that have excellent business ideas are highly encouraged to share with the district for win-win projects. One of its good examples was ‘Gwanak Smart Aging for Senior Project’ introduced March last year.

Park Jun-hee, Governor of Gwanak District, says “We are working on using the most of our young entrepreneurship to turn the district as the mecca of startups in the nation. S Valley and Startup Valley seem to be going on very well without notable obstacles and we will work in cooperation with related organizations for unsparing investment and support. We are ambitious to make the district Silicon Valley in South Korea.”

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