Support of Insect and Breeding Supplies Worth 3 Million KRW Provided to 20 Insect Startup Teams

Seoul City Expands Startup Opportunities with Income-Linked Support ... Applications Open Until 27th

On the 17th, at the Agricultural Technology Center in Seocho-gu, Seoul, a participant is handing a pet insect to a judge at the '2017 1st Seoul Pet Insect Contest.' Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Jo In-kyung] On the 17th, the Seoul Metropolitan Government announced that it will support 20 teams of insect entrepreneurs and prospective entrepreneurs who are producing, processing, distributing, selling, and educating about insects, by providing insect products and insect breeding materials worth approximately 3 million KRW per team.

As the insect industry is gaining attention as a "future agricultural resource," the plan is to support existing insect entrepreneurs, promote the startup of prospective entrepreneurs, and link this support to income generation.

The support items include insects and insect breeding materials, specifically insect species most commonly used as pets and breeding sets commonly used in insect business sites. The same quantity will be provided to the selected 20 teams.

The eligible applicants are those currently producing, processing, distributing, selling, or educating about insects, or agricultural corporations and urban agriculture communities, and must have reported insects or registered their business with local governments. For prospective insect entrepreneurs, insect reporting or business registration must be completed before the support of insect materials (by the institution's designated date). However, only those whose business address is registered in Seoul (including organizations) are eligible.

Those who have participated in insect-related events or agricultural research groups within the jurisdiction will be given priority for selection, which will be conducted through on-site evaluations and an internal selection committee based on the appropriateness of the business plan, business foundation, sales performance, and other criteria.

Prospective entrepreneurs will receive education on the prospects, value, and startup strategies of insects at the Agricultural Technology Center next month.

The application period is until the 27th of this month, and applicants can check the required documents on the Seoul Agricultural Technology Center website and submit them via email to the person in charge (hsunny1227@seoul.go.kr). The selection results can be confirmed on April 14th on the Seoul Agricultural Technology Center website.

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