Audition to Select Strong Small Business Owners to Be Held
Support Including Up to 50 Million KRW Commercialization Funds for 30 Selected Teams
[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young, hereinafter referred to as the Ministry) announced on the 27th that it will hold the 'Strong Small Business Growth Support Audition' together with the Small Enterprise and Market Service (Chairman Jo Bong-hwan).
The audition, held over two days on the 28th and 29th at the Nodeul Island Live Performance Hall in Seoul, is a project to discover promising small business owners based on lifestyle culture and support the development of differentiated products and services unique to small business owners, fostering them to grow into entrepreneurial small business owners.
This project has three types of collaboration among creators, startups, and small business owners. In March, 1,324 small business owners applied, recording a high competition rate of 13.2 to 1, and after document and face-to-face evaluations, 100 teams composed of partners such as small business owners and creators were selected.
The event will take place at the Hangang Nodeul Island Live House and its surroundings, and the program consists of a pitching contest, product exhibition, and networking with senior entrepreneurs and investors.
In particular, the 30 teams selected through the pitching contest held over two days will receive a Strong Small Business Owner certificate along with 50 million KRW in commercialization funds to be used for the '2Xel Growth Program (planning, production, verification, and improvement package support)'. Additionally, incubation programs from operating organizations such as N15 Partners, the Small and Medium Business Hope Foundation, Gyeonggi Center for Creative Economy and Innovation, and Jeju Center for Creative Economy and Innovation will be provided.
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Won Young-jun, Small Business Policy Officer at the Ministry, said, "While previous small business policies focused on the recovery of livelihood-type small business owners affected by COVID-19, it is now time to consider fostering small business owners with growth potential." He added, "We will focus on raising public awareness of small business owners as important economic agents in our country and building a growth ladder that can lead them to small and medium-sized enterprises and mid-sized companies."
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