POSCO Group has opened South Korea's first advanced manufacturing incubation center in Pohang on July 22, marking a significant step in revitalizing the local manufacturing startup ecosystem.
The 'RIST Advanced Manufacturing Incubation Center' is the first hub for nurturing manufacturing startups in the country, developed through collaboration between POSCO Group, the Ministry of SMEs and Startups, Gyeongbuk Province, and Pohang City, leveraging the practical research capabilities of RIST (Pohang Institute of Industrial Science and Technology).
The center spans two floors and covers a total area of 4,074 square meters, accommodating up to 10 companies.
Manufacturing startups often face challenges in commercialization due to the substantial funding required for prototype development, testing, and establishing mass production facilities. POSCO Group plans to support these startups by sharing testing facilities and research infrastructure to help them overcome the so-called 'Death Valley' of startup development.
The center is equipped with essential shared infrastructure for product testing, including cooling water, compressed air, and six types of industrial gases (such as hydrogen, nitrogen, and oxygen). RIST will also provide support in testing, analysis, reliability evaluation, and process design technologies.
POSCO Group aims to leverage its own venture nurturing, manufacturing, research and development, and marketing capabilities to assist the growth of resident companies. Specifically, the group will handle the entire incubation process, including identifying promising ventures, providing research and development support, scaling up facilities and processes, commercialization, and securing global market access, with the Ministry of SMEs and Startups and Gyeongbuk Province supporting the center's operations.
This initiative will enable resident companies to receive systematic support throughout the entire cycle, from technology development to testing, mass production, investment attraction, and factory establishment.
The opening of this center is a continuation of POSCO Group's venture nurturing platform, 'CHANGeUP.' The group has focused on early identification of promising companies that can be linked to strategic businesses, providing direct investment or research and development support to create business synergies and ultimately discover future growth engines for the group.
Currently, four companies are residing in the center, including Enforus (high-temperature electrolysis hydrogen production), Solarize (solar inverter production), Vericore Materials (eco-friendly coating production), and A4S (solvent extraction for secondary batteries), all of which have received direct or indirect investment and research support from POSCO Group.
POSCO Group stated, "We plan to continue supporting the growth of local manufacturing ventures and contribute to balanced regional development by creating quality jobs and new businesses."
* This article has been translated by AI.
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