Gyeonggi Institute of Economy and Science Provides Up to 40 Million KRW Support for Reboot Entrepreneurs

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi-do Economic Science Promotion Agency is recruiting 35 prospective and re-entrepreneurs to participate in the '2020 Re-challenge Success Package Project' until the 31st of this month.

The Re-challenge Success Package Project supports the entire re-startup process as a package, from discovering entrepreneurs dreaming of a comeback, analyzing causes of failure, providing capacity-building education, to commercialization.

The eligible applicants are prospective re-entrepreneurs preparing to start a business after closure or companies within three years of re-startup.

If selected for the project, commercialization funds of 40 million KRW, including prototype production and marketing expenses, will be provided. Additionally, re-startup education for failure cause analysis and business model establishment will be offered.

Expert mentoring and space for startup activities will also be supported.

Prospective and re-entrepreneurs wishing to participate must submit a business plan online through the K-Startup website (www.k-startup.go.kr) by 6 p.m. on the 31st.

The Gyeonggi Economic Science Agency has been selected as the host institution for the Re-challenge Success Package Project organized by the Ministry of SMEs and Startups for the fourth consecutive year.

From 2017 to last year, 188 people succeeded in re-startup through the Re-challenge Success Package Project.

Companies that succeeded in re-startup achieved sales of 9.9 billion KRW and created 181 jobs.

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