Gyeonggi-do Supports Startups Linked with 'Crowdfunding'

50 Securities-Type, Sponsorship-Type, and Global Companies
Expanding This Year's Global (Reward-Type) Funding Business

[Asia Economy Reporter La Young-cheol] Gyeonggi Province and the Gyeonggi Economic Science Promotion Agency are promoting the 'Crowdfunding-Linked Startup Support Project' to help startups secure private investment funds smoothly and verify marketability.

This year, the project operates by having startups register their products on online funding platforms, receive evaluations from small-scale public investors on selection and marketability, and then expand their equity through investment attraction.

In particular, in addition to the 'securities-type (investment-type)' which offers equity to investors as a reward for funding, and the 'support-type (reward-type)' which provides products, a new 'global (reward-type)' has been introduced to broaden opportunities for local companies to connect with overseas crowdfunding consumers.

Accordingly, this year, a total of 50 companies will be supported, including 30 in the 'securities-type (investment-type)', 10 in the 'support-type (reward-type)', and 10 in the 'global (reward-type)'.

The support targets are excellent startup companies located in Gyeonggi Province, less than 7 years old, technology-based, and holding outstanding startup items that wish to raise funds and enter the market through online crowdfunding registration.

Selected startups will receive support for intermediary fees for crowdfunding platform registration, video and funding page production costs, advertising expenses, and more.

The maximum support amounts are up to 5 million KRW for 'support-type', up to 30 million KRW for 'global', and up to 10 million KRW for 'securities-type'.

To strengthen investment attraction capabilities and increase funding success rates, investment education, one-on-one consulting, and mentoring will also be provided.

In particular, among the 10 companies in the 'securities-type' category that succeed in funding, outstanding companies will be selected through a selection committee and supported with commercialization funds up to 50 million KRW.

Kim Pyeong-won, Head of Startup Support Division, said, "We will effectively provide funding opportunities to companies by utilizing online crowdfunding suitable for a non-face-to-face society and help promising startups with potential succeed in their ventures."

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