Korea Startup Forum Launches Startup COVID-19 Response Program

Selected as Korean Partner of Youth Business International (YBI) - Google.org Global Network for Youth Startup Support
Part of Global Program Supporting Startups in 32 Countries Facing Management Crisis Due to COVID-19

The Korea Startup Forum announced on the 15th that it has been selected as the Korean partner for the "COVID-19 Emergency Response Support Project" and will operate a support program for Korean startups facing management crises. Photo by Korea Startup Forum

[Asia Economy Reporter Heeyoon Kim] Korea Startup Forum announced on the 15th that it has been selected as the Korean partner for the ‘COVID-19 Emergency Response Support Project’ and will operate a support program for Korean startups facing management crises.

This project is hosted by YBI (Youth Business International), a global youth entrepreneurship support network, and sponsored by Google.org, Google’s philanthropic arm. It is a global project that supports entrepreneurs of small and medium-sized enterprises and startups struggling due to the novel coronavirus infection (COVID-19), helping local communities and the sustainability of life.

Korea Startup Forum, the only Korean partner selected, launched the Korean version of the ‘Startup COVID-19 Response Program’ and plans to support startups experiencing business difficulties amid the unprecedented COVID-19 outbreak. After conducting a demand survey on the most needed support measures for startup CEOs, it selected three main keywords: ‘legal consultation,’ ‘investment opportunities,’ and ‘growth support,’ and prepared a total of four crisis response support programs.

First, it provides management and legal consulting for startups facing crises such as business deterioration caused by COVID-19. Second, it offers an online investor exchange program for early-stage startups that have difficulty networking with accelerators and investors due to the contraction of offline events. Third, it holds seminars sharing experiences of startups that turned the crisis into an opportunity during the COVID-19 pandemic, providing business insights. Lastly, it operates a program supporting business network expansion and marketing. The related programs will be operated sequentially from this month until April next year.

The program is open to all startups, with preferential treatment given to entrepreneurs and startups in more vulnerable situations due to the COVID-19 crisis, such as working moms, North Korean defectors, and youth, in line with the purpose of the COVID response program.

Choi Sungjin, CEO of Korea Startup Forum, said, “Even startups, which are relatively resilient since the COVID-19 outbreak began, are experiencing difficulties such as business deterioration and investment delays,” adding, “As the Korean partner of YBI-Google.org, we will expand sincere support measures in cooperation with the global network to overcome the crisis in the domestic startup ecosystem.”

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