Ministry of Culture, Sports and Tourism Opens Applications for 38 Traditional Culture Youth Startups... 100 Million KRW Support Over 3 Years
Support for Startup Education, Customized Consulting, Investment Attraction, Promotion, and Networking
The Ministry of Culture, Sports and Tourism announced on the 28th that it is recruiting 38 early-stage startup companies to shape the future of the traditional culture industry, in collaboration with the Korea Craft and Design Foundation. Photo by Ministry of Culture, Sports and Tourism
View original image[Asia Economy Reporter Kim Heeyoon] The Ministry of Culture, Sports and Tourism announced on the 28th that it is recruiting 38 early-stage startup companies led by young entrepreneurs to shape the future of the traditional culture industry, in collaboration with the Korea Craft & Design Foundation.
This project was established to support startups specialized in the traditional culture sector. Over the past two years, it has discovered 51 outstanding early-stage startups and 99 prospective startup teams.
This recruitment is open to representatives of startups operating within three years in the traditional culture field who are under 39 years old. Selected companies will receive an average of 100 million KRW in commercialization funds over three years, along with startup education, customized consulting, investment attraction, promotional events, and networking opportunities.
In particular, this year the Foundation will support office space through the operation of a startup support center where early-stage startups without established offices can hold idea meetings and engage in inter-company exchanges. Outstanding early-stage startups will be awarded prizes such as the Minister of Culture, Sports and Tourism Award and receive additional promotional support. Applications will be accepted until the 27th of next month.
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A Ministry of Culture, Sports and Tourism official stated, "We plan to expand this project in various ways to become a strong partner for young entrepreneurs who wish to inherit and develop traditional culture. Moving forward, we will establish support for startup growth companies and create and operate startup and job centers to build an innovative startup ecosystem in the traditional culture industry."
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