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Title	KCC SEEKS UNICORN COMPANIES IN THE LOCATION INFORMATION INDUSTRY
Date	2024-08-05	Read	16214
KCC launches the 2024 excellent location information business model discovery project Supports commercialization and service advancement of excellent location information business models The Korea Communications Commission (KCC, Acting Chairman Lee Sang-in) announced, in collaboration with the Korea Internet and Security Agency (KISA, President Lee Sang-joong), the launch of the 2024 Excellent Location Information Business Model Discovery Project that will start on July 11. The KCC has been promoting this project to help small and micro-enterprises and startups with excellent business models in the location information sector to establish themselves in the market successfully. In 2012, Baedal Minjok won an award in this project's competition. The 2024 Excellent Location Information Business Model Discovery Project comprises two programs: the Korea Location Information Excellent Business Model Discovery Contest and the Cloud Infrastructure Support Program. The contest is divided into the 'Idea' and 'Commercialization Support' categories. The Idea category aims to discover 15 innovative ideas from young entrepreneurs aspiring to start location information services, providing business model consulting and technical mentoring to help them realize their ideas. Among them, the top five teams will receive awards (Grand Prize: KCC Chairman's Award) and prize money totaling 14 million won. In the 'Commercialization Support' category, 25 small and micro-location information businesses with capabilities and competitiveness in the public, safety, and daily life sectors will be selected to receive awards (Grand Prize: KCC Chairman's Award) and prize money totaling 149 million won. Additionally, they will be supported with service advancement development costs (3 million won per team) and benchmarking tours to leading companies. As part of commercialization support, from August, a separate program named "Growth Promotion Program" will support collaboration between promising SMEs and leading location information companies and domestic and international market exploration. The Cloud Infrastructure Support Program provides development and testing environments for location information businesses through cloud-based software. It supports 25 teams of new startups (under three years old) and aspiring entrepreneurs. Applications for the 2024 Excellent Location Information Business Model Discovery Project can be submitted on the contest website at https://korealbs.or.kr from July 11 to August 14. The KCC stated, "The location information industry has endless application fields and utilization methods. With the daily use of smart devices and the advancement of technology, its importance and impact are expected to continue growing. We will actively support the discovery of various business models utilizing location information to ensure competitiveness in the global market." ### The Korea Communications Commission
File	240711 (보도자료) 방통위, 위치정보산업계의 유니콘 기업을 찾습니다.pdf 20240711_News_Release_location information.docx

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