Gyeonggi Economic Science Institute Provides Up to 60 Million KRW Support for Re-Entrepreneurs

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi-do Economic Science Promotion Agency is launching a support program to discover and assist re-entrepreneurs.

The Gyeonggi Economic Science Agency announced on the 24th that it is recruiting 45 (prospective) re-entrepreneurs to participate in the "Rechallenge Success Package" project, which supports the entire re-entrepreneurship process as a package?from failure cause analysis, capacity building education, to commercialization?for entrepreneurs dreaming of a comeback, until the 28th of this month.

The recruitment targets are prospective re-entrepreneurs with concrete business plans or companies within three years of re-entrepreneurship.

Selected companies can receive support for commercialization, including prototype production and marketing expenses necessary for product and service development.

The support fund will be applied differentially from 40 million KRW to a maximum of 60 million KRW per company, depending on the evaluation results.

The Gyeonggi Economic Science Agency has been selected as the main institution for this project for the fourth consecutive year.

A representative of the Gyeonggi Economic Science Agency explained, "From 2017 to 2019, we successfully supported a total of 188 re-entrepreneurs, achieving sales of 6.1 billion KRW in 2018, creating 81 jobs, and attracting 2.1 billion KRW in investment," adding, "In recognition of these achievements, we were selected as an excellent main institution by the Korea Institute of Startup & Entrepreneurship Development last year."

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