In-house Venture Startup Supported by the Ministry of SMEs and Startups
'In-house Venture Development Program'
Recruiting Around 30 In-house Venture Teams
The Ministry of SMEs and Startups (Minister Lee Young) announced that from the 7th of this month until the 8th of next month, it will recruit in-house venture teams wishing to participate in the 'In-house Venture Development Program.' This program supports excellent technical personnel from large, medium-sized, small, and public enterprises to challenge entrepreneurship. When an operating company of an in-house venture recommends an in-house venture team discovered and nurtured internally to the Ministry of SMEs and Startups, the team is finally selected through a selection evaluation.
The Ministry of SMEs and Startups plans to select about 30 in-house venture teams through this announcement. The selected in-house venture teams will receive up to 100 million KRW in commercialization funds from the Ministry of SMEs and Startups and a growth support program consisting of education, mentoring, and networking from the hosting organization.
To participate in the 'In-house Venture Development Program,' the operating company must first complete the registration process. Operating companies wishing to recommend in-house venture teams can apply for operating company registration on the 'K-Startup Startup Support Portal' website by the 25th. Starting this year, operating companies that meet certain requirements such as regulations, personnel, and resources to support in-house venture teams can register at any time without a separate selection evaluation. This is to improve accessibility and convenience for operating companies regarding the in-house venture development program.
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Operating companies that meet the registration requirements are granted the authority to recommend in-house venture teams. Recommendation letters for in-house venture teams from registered operating companies will be accepted via email to the Korea Institute of Startup & Entrepreneurship Development until the 1st of next month. For more detailed information, please check the announcement on the Startup Support Portal.
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