New Recruitment of Lead Organizations for the 'Initial Startup Package'... 8 Regional Zones

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 13th that it is recruiting new lead organizations for the Early Startup Package to support the stabilization and growth of early-stage startup companies.

The eligibility criteria for applicants of the lead organizations being newly recruited this time are universities, public, and private institutions equipped with the human and material capabilities and infrastructure to support early startups (within 3 years of establishment). The selection scale is around 40 organizations. Considering regional startup demand and conditions, the metropolitan area and provinces will be divided into 8 zones and allocated evenly.

If selected as a lead organization, the institution will receive budget support for discovering and nurturing early-stage startups in the region for three years (2020?2022). This includes approximately 1.7 billion KRW for startup discovery and commercialization support funds and 300 million KRW annually for operating specialized programs to induce growth, totaling about 2.3 billion KRW per year.

For more details on the recruitment and selection of lead organizations, please refer to the K-Startup website or the Ministry of SMEs and Startups website.

This content was produced with the assistance of AI translation services.