Seoul Tourism Rebound: Recruiting 'Tourism Startups' with Up to 70 Million KRW Support

Recruiting Startups to Lead Innovation in Tourism in the Endemic Era... Applications Open Until Next Month 4
Final Selection of 12 Companies, Support of 430 Million KRW

[Asia Economy Reporter Lim Cheol-young] On the 16th, the Seoul Metropolitan Government and the Seoul Tourism Foundation announced that they will hold the Seoul Tourism Startup Collaboration Project Contest until the 4th of next month to select new tourism startups that will showcase the future of the tourism industry in preparation for the endemic era following the pandemic.

In the endemic era, startups providing tourism services and content that allow domestic and international tourists to experience the charm of Seoul in new and convenient ways, reflecting future tourism trends, can apply regardless of industry type. This year, the number of selected companies will be reduced compared to last year (from 16 to 12), but the business promotion fund per company will be increased (30 million to 70 million KRW) to provide more substantial and close startup support.

Eligibility is limited to small and medium-sized enterprises and individual businesses that have been established for more than 6 months and less than 7 years as of the application deadline. Applicants should refer to the announcement and submit their project business plans online (Google Form) by the 4th of next month.

The final 12 companies will be selected through a first-round document screening, second-round presentation and interview, and third-round on-site public audition. A panel of experts in each field will conduct a comprehensive evaluation considering the necessity, feasibility, execution capability, sustainability, and contribution to Seoul tourism. The business promotion funds will be distributed differentially according to the ranking results. In addition to the same ICT/platform, content/experience, and value tourism services as last year, beauty and wellness fields have been newly added this year.

Selected companies in the contest will receive business promotion funds along with an annual customized startup nurturing program provided by professional accelerators. Dedicated mentors for the Seoul Tourism Startup Collaboration Project will conduct one-on-one customized consulting based on company status diagnosis, business model analysis, and company characteristics, and provide support such as education for practical investment attraction and connections to investment institutions. Follow-up support for outstanding companies will continue even after the collaboration project period ends.

Furthermore, the Seoul Metropolitan Government and related organizations will support overseas market entry and diversified sales channel development through company promotion using websites and SNS channels they own, as well as linking with online and offline events hosted by the city such as the Seoul International Travel Mart (SITM), Try Everything (the Seoul Global Startup Festival), overseas tourism trade fairs and briefings, and Seoul Festa 2022.

Choi Kyung-joo, Director of the Seoul Tourism and Sports Bureau, said, “We plan to continuously discover and nurture startups with competitiveness in the global market to lay the foundation for the future Seoul tourism industry,” and added, “We will promote a rebound of the entire tourism industry by linking with the global tourism festival ‘Seoul Festa 2022’ scheduled for the second half of this year.”

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