Venture Business Association, Recruiting for 'Pre-Startup Package Social Venture Sector'

[Asia Economy Reporter Kim Cheol-hyun] The Seoul Venture Incubator (SVI), operated by the Korea Venture Business Association (Chairman An Geon-jun), announced that it will recruit prospective entrepreneurs to participate in the 'Pre-Startup Package Social Venture Sector Project' starting from the 17th. This project supports prospective entrepreneurs with a package including up to 100 million KRW in commercialization funds, startup education, and mentoring to facilitate smooth early-stage commercialization.

SVI plans to select a total of about 100 prospective entrepreneurs and provide tailored capacity-building programs for each early business stage through commercialization funds and a social venture accelerating course. Eligibility requires that applicants have no prior startup experience or do not own a business under their name as of the announcement date. If applicants have prior business closure experience, they are eligible only if they start a business in a different product or service sector.

Prospective entrepreneurs in the social venture sector should select the Korea Venture Business Association as the lead institution and submit a business plan for their startup item. Selection will be made after reviewing the motivation for developing the startup item, commercialization strategy, social value, performance creation strategy, and the capabilities of the representative and team members. The final selected prospective entrepreneurs must implement their startup at least two months before the contract end date and must receive social venture certification within two months after the startup date. An association official stated, "We will actively support the development into a sustainable business model by expanding networks with various stakeholders such as impact investors and accelerators within the social venture ecosystem."

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