Incheon City Supports Youth Startup Crowdfunding Within 7 Years... Up to 5.5 Million KRW

Incheon City Hall Exterior View

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 14th that it will start a crowdfunding support project to help young small business owners in the early stages of entrepreneurship with market validation and online sales channel development.

Crowdfunding, meaning "funds created by the public," refers to activities where companies with creative items introduce their products to the public through online platforms and raise funds.

The young entrepreneurship crowdfunding support is a project Incheon City is launching for the first time this year, selecting and supporting five young small business owners who started their businesses within the last seven years in the region.

Various preparation costs required for crowdfunding, such as content production and promotion costs within the platform, as well as startup packaging costs including courier box production, inner packaging, and cushioning materials, will be supported up to a maximum of 5.5 million KRW per company.

Applications for support can be submitted by visiting the Incheon Small Business and Low-Income Financial Welfare Support Center in person, or via email or registered mail by the 25th of this month.

An official from Incheon City stated, "Helping innovative products to gain recognition not only benefits individual companies but also promotes the interests of our entire society," adding, "We will spare no effort to improve the business conditions of young small business owners in Incheon and revitalize the local economy."

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