Support for Young Entrepreneurs in Gangdong-gu with Business Funds up to 10 Million KRW

Promotion of the '2021 Youth Startup Support Project' to Foster Young Entrepreneurs with Growth Potential... Recruiting Outstanding Youth Companies in Technology, Knowledge, and Other General Startup Fields Until March 22

[Asia Economy Reporter Jongil Park] Gangdong-gu (Mayor Lee Jeong-hoon) is recruiting participating companies for the ‘2021 Youth Startup Support Project’ from the 18th to the 22nd to nurture young entrepreneurs with excellent ideas, technological capabilities, and growth potential.

Typically, startups face a high probability of encountering the ‘Death Valley’?a critical phase where, even after successful research and development, they struggle with funding and market entry, putting them at risk of failure.

The district aims to prevent startups from falling into this Death Valley, create an environment where outstanding companies can continuously grow, and help them enter a stable growth trajectory.

Through this project, the district plans to discover and nurture capable startups with excellent ideas and support startups facing financial crises and stable growth in the startup market.

The startup support funds provided to companies selected for the Youth Startup Support Project can be used for product commercialization costs, market development expenses, and more.

Additionally, in connection with the Gangdong-gu Youth Haenaem Center programs, entrepreneurship education, mentoring, and consulting will also be provided.

The recruitment period is until March 22, and the fields of recruitment include three categories: technology startups, knowledge startups, and other general startups.

The target applicants are startups within five years of establishment, registered in Gangdong-gu as of the announcement date, with company representatives aged 19 to 39 residing in Seoul.

Mayor Lee Jeong-hoon of Gangdong-gu said, “I hope that the Youth Startup Support Project, along with the Youth Haenaem Center, which has established itself as a representative startup hub in the southeastern region, and the Youth Work-Play Town, will serve as a stepping stone for young companies to leap forward.” He added, “Gangdong-gu will continue to spare no effort in building startup infrastructure and revitalizing the startup market as a mecca of startup culture.”

For application methods and detailed information about the Gangdong-gu Youth Startup Support Project, please visit the Gangdong-gu Office website or contact the Social Economy Division of Gangdong-gu Office.

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