Science Ministry, Posco agree to support domestic start-ups
At the celebration held at Posco’s headquarters in southern Seoul, the company announced it will open and operate a research lab at the venture association and hold regular technology transfer sessions and joint research there.
The steelmaker will use its existing mutual growth fund of 100 billion won ($89 million) to support the projects, and will later acquire them.
Start-ups in their early stages can develop their ideas under the directors at Posco and the venture association. Some of the successful start-ups will receive investment or be acquired by the two parties.
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