Gyeongnam Province and Masan University Foster and Support 10 Startups in the Sports Industry
[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongsangnam-do announced on the 27th that it will operate the 'Gyeongnam Sports Industry Promotion Support Center' together with Masan University to create a new market for the sports industry.
In January of this year, Gyeongnam Province selected Masan University through a public contest to choose the operator of the Gyeongnam Sports Industry Promotion Support Center, and decided to support the establishment of 10 new sports industry-related companies (including those less than 3 years old) at this center.
The support center evaluates business plans to select promising startup trainees and provides a 3-month training program. After completing the training, trainees form teams and submit business plans; among these, excellent teams are selected and provided with differentiated incubation funds ranging from 15 million to 45 million KRW over 5 months based on their educational performance.
The startup training program is conducted over 3 months and includes basic education (orientation, basic theory, business plan writing), advanced education (sports industry market analysis, sports industry outlook, global technology trends, regionally specialized sports industry), and final education (startup practical theory, intellectual property design, startup marketing, understanding government support projects, business fund procurement planning, business plan presentation).
The startup incubation program lasts for 5 months and includes intellectual property application, expert consulting, prototype production, meetings with specialized institutions, and participation in exhibitions. The application period is until May 8. In the future, Gyeongsangnam-do plans to nurture these companies into preliminary social enterprises and social economy enterprises.
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Ryu Myung-hyun, Director of the Culture, Tourism and Sports Bureau of Gyeongsangnam-do, said, "We will continuously support trainees so that they face no difficulties in growing into sports startups after completing the training, and we will do our best to ensure that the sports industry becomes a new growth engine to revitalize the local economy, which has been depressed due to the COVID-19 pandemic."
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