Ministry of Culture, Sports and Tourism Calls for Sports Industry Startup Companies
[Asia Economy Reporter Donghyun Choi] The Ministry of Culture, Sports and Tourism announced on the 16th that it will carry out the '2021 Sports Industry Startup Support Project' in collaboration with the Korea Sports Promotion Foundation to discover promising business models in the sports industry and support sports companies struggling due to COVID-19.
This year, additional points are given for COVID-19 damages, and the number of selected companies has been expanded from 75 last year to 100 this year. For the convenience of participating companies, the application process, which was previously conducted separately by each incubation institution, will be integrated and conducted through the 'Sports Industry Support website.' Detailed guidance on how to write the business plan will also be provided through the Korea Sports Promotion Foundation's YouTube channel. Applications will be accepted from today until March 2.
This support project targets prospective entrepreneurs and startups less than seven years old. Prospective entrepreneurs and startups less than three years old can receive support through the Preliminary and Early Startup Support Centers (5 centers). Among startups less than seven years old, companies with at least one participation record in government startup support projects can receive follow-up support through the Startup Leap Centers (2 centers).
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Selected companies will receive customized startup incubation, including startup education, field training, workshops, and business exchanges through the Preliminary and Early Startup Support Centers and Startup Leap Centers, along with an average of 30 million KRW (up to 45 million KRW) in commercialization funds per company. The Sports Industry Comprehensive Support Center, opening on the 23rd, will also support selected companies by linking various programs such as consultations with legal and labor experts, Sports Industry Investment Week, and domestic and international market development support. The final selection results will be announced in March. More detailed information regarding the application can be obtained through the 'Sports Industry Support website' and the representative contact number.
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