Daejeon Innovation Center will speed up its advance into Mongolian start-ups

Director of Daejeon Creative Economy Innovation Center (left) and CEO of Socratus Startup Studio (right)

The Daejeon Creative Economy Innovation Center will sign an agreement with Mongolian accelerating institutions to expand its presence in the Mongolian startup ecosystem.

The Daejeon Innovation Center announced on the 29th that it signed an agreement with the Science Park Administration (SPA) under the Mongolian Ministry of Education and Science in Ulaanbaatar, Mongolia, on the 24th.

SPA is a government-led institution that produces entrepreneurs and startups based on high-tech industries such as knowledge-based innovative technology industry development and science industry product revitalization, and Socratus is a private accelerating institution that provides services and investments to help innovative start-up ideas and start-ups grow into a business system.

The Daejeon Innovation Center signed an agreement with each of them, expecting that startups in Daejeon would speed up their expansion into Mongolia.

According to the agreement, these organizations will focus on promoting startups in both countries, including supporting industrial inspection for benchmarking, planning and promoting joint projects to strengthen the global capabilities of childcare and support companies and member companies, and joint support for startups entering the other countries' markets.

The Daejeon Innovation Center is continuing its efforts to spread the global market for startups through agreements and exchanges with Vietnam's National Startup Support Center (NSSC), Innolab Asia, Azerbaijan's National Academy of Sciences' high-tech complex, and Dubai AGCC (GCC Accelerator) as well as Mongolia.

head of the Daejeon Innovation Center, said, "We have laid the foundation for entering the local market customized for startups by signing agreements with government-led and private accelerator organizations in Mongolia. We will constantly make efforts to help science and technology-based startups in Daejeon enter overseas markets through exchanges with various countries in the future."