Establishing a Stable Foundation for Young Entrepreneurs... Pohang City Youth Startup LAB, Initial Support
Overcoming Death Valley: Providing Business Support Funds and Customized Programs
Recruiting About 10 People in Life-Friendly and Social Problem-Solving Fields
[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Pohang City Youth Startup LAB is recruiting participants for the ‘Youth Entrepreneur Support Project’ targeting young entrepreneurs who have started a business within the last 3 years (aged 19 to 39) until the 27th.
The ‘Youth Entrepreneur Support Project’ is a program designed to help young entrepreneurs overcome the startup death valley by minimizing trial and error such as poor sales and capital exhaustion in the early stages. It aims to strengthen the self-sustainability of startups by providing initial entrepreneurs with a business support fund of 8 million KRW and a secondary incubating program.
About 10 participants will be recruited in two fields: ‘Lifestyle-friendly startups,’ which are closely related to daily life, and ‘Social problem-solving startups,’ which find opportunities in issues arising within the local community. Detailed information can be found on the Pohang City Youth Startup LAB website.
Youth Startup LAB is a secondary incubating specialized space responding to lifestyle startup demands, offering tailored startup programs at each stage, including individual consulting in areas necessary for startups such as finance and marketing, startup consulting, startup classes, and practical live commerce.
Especially this year, some programs are being prepared to be available at the Pohang Youth Center & Startup Platform to meet the needs of young people.
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A city official stated, “Considering the high closure rate within 3 years after startup, overcoming the initial stagnation period is crucial. We expect that the business support fund and secondary incubating program will greatly help early-stage entrepreneurs facing operational difficulties,” adding, “We will actively strive to support successful startups by overcoming early-stage challenges through expert consulting and sharing know-how from successful entrepreneurs.”
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