Seongbuk-gu, Fostering Young Social Entrepreneurs

Providing Education and Consulting Opportunities to 8 Selected Teams... Final Selection of 4 Teams, Up to 10 Million KRW Business Development Funding Supported

[Asia Economy Reporter Jong-il Park] Seongbuk-gu (Mayor Lee Seung-ro) is recruiting teams to participate in the "Youth Social Venture Innovation Competition" to nurture young social entrepreneurs who will solve community problems in creative and innovative ways.

The Youth Social Venture Innovation Competition is being planned and promoted for the first time this year to discover business models that innovatively solve social problems through a contest by soliciting fresh and capable ideas from young people dreaming of social change, supporting youth startups, and contributing to revitalizing the local economy.

Eligibility includes preliminary startup teams of two or more members or social ventures and social economy enterprises that have been established for less than two years. At least 50% of the team members must be youth aged 19 to 39, and any creative and innovative business aimed at solving community problems can apply.

The application period is until the 22nd, and organizations wishing to participate can download the form from the Seongbuk-gu Office website (District News → Notices), fill it out, and submit it via email (2009051327@sb.go.kr).

After the first document screening, eight teams will be selected to participate in the competition, followed by three weeks of education and consulting. The final competition will be held on July 11, where presentations by participating teams and on-site judging by the panel will select four final teams (1 grand prize, 1 excellence prize, 2 encouragement prizes).

The selected youth teams will receive differential support of up to 10 million KRW. (※ The competition schedule may change depending on the progress of the COVID-19 pandemic.)

Mayor Lee Seung-ro stated, "In this difficult economic situation with a severe shortage of youth jobs, I hope this will be a great opportunity for creative and ambitious young people to realize their dreams in the community and spread social value together."

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