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Samsung Electronics plans to support 500 startups in the next five years

According to the Yonhap News Agency, South Korean electronics giant Samsung Electronics" target="_blank">Electronics announced on October 17 that the company will support 500 startups in the next five years as a response to the South Korean government’s call to boost the national economy and create more jobs.
The project is a follow-up to a statement made by Samsung Electronics in August this year, when Samsung Electronics announced that it will invest an astonishing 180 trillion won (about 160 billion US dollars) in the next three years to revitalize the national economy and develop new ones. Growth engine.
The tech giant said its 500 startups, which are planned to be supported, include 200 startups created by Samsung employees. The company has been encouraging its employees to start a startup under the Samsung C-Lab project.
In addition, through the C-Lab Outside project, Samsung will also support the information technology field, including venture capital companies outside of Samsung in the mobile field.
Junior startups, including potential founders, are eligible to apply for Samsung’s support. The selected companies will grow to 100 in the next five years, and they can enjoy the R&D parks located in the south of Seoul provided by Samsung Electronics.
These startups will also receive consulting projects in design, technology, patents and taxation, as well as opportunities to participate in global technology exhibitions.
Samsung said it will train more than 200 startups in the creative economic centers of Daegu and Gumi.
Samsung Electronics said that its C-Lab Inside project for Samsung employees will expand in the future. In the past six years, 917 employees have participated in 228 projects and 34 startup companies have been born. With the support of the C-Lab Inside project, two new startup projects will be officially launched at the end of this month, when two new startups will be born.
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