Youth Startup Academy to Recruit Record High of 1,065 Participants This Year

Including the newly established Sejong Youth Startup Academy, package support such as up to 100 million KRW startup commercialization funds, prototype production, and market development available at 18 schools nationwide until the 8th of next month

[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups announced on the 17th that it will recruit entrants for the '2021 Youth Startup Academy' from the 18th of this month until July 8th to foster innovative entrepreneurs.

The Youth Startup Academy is a program that discovers outstanding entrepreneurs with promising startup ideas and innovative technologies and supports all stages of startup commercialization as a package.

Since its launch in 2011, the Youth Startup Academy has produced 4,798 young entrepreneurs, achieved cumulative sales of 4.7822 trillion KRW, and created 13,718 new jobs. It has also nurtured unicorn companies such as 'Toss,' establishing itself as a leading incubator for youth technology startups in Korea.

This year, the Sejong Youth Startup Academy will open as a new branch, and a total of 1,065 entrants will be recruited across 18 Youth Startup Academies, the highest number since their inception. Eligible applicants are representatives of companies under 39 years old and within three years of establishment.

Selected entrepreneurs will receive various support necessary for early-stage startups, including startup commercialization funds up to 100 million KRW within 70% of the total project cost, office space, infrastructure for prototype production, startup education and guidance, and market development.

Those wishing to enter the Youth Startup Academy can apply through the 'K-Startup website' by 5 p.m. on July 8th, and inquiries can be made to any of the 18 Youth Startup Academies nationwide.

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