Ministry of SMEs and Startups Recruiting Prospective Entrepreneurs for New Business Startup Academy Participation

Selection of Prospective Small Business Owners in 17 Regions Nationwide

The Ministry of SMEs and Startups announced on the 18th that it is recruiting prospective entrepreneurs to participate in the 'New Business Startup Academy' project, which supports the prepared startups of prospective small business owners.

The New Business Startup Academy, which will begin recruiting participants from the 19th, is a representative small business startup support project that discovers prospective entrepreneurs with innovative ideas and supports them so that their ideas can lead to successful startups.

In 17 cities and provinces nationwide, prospective entrepreneurs with creativity and growth potential receive a package of education, counseling and coaching, incubation space, and up to 40 million KRW in commercialization funds to help prepare small business owners for startup based on their livelihood.

[Image source=Yonhap News]

Application types are divided into three categories considering startup trends and regional economic revitalization: ▲Online Seller ▲Local Creator ▲Lifestyle. The program is divided into three stages: 'Basic → Advanced → Practical,' with support varying according to the growth stage.

In the basic stage, essential startup education such as business model development, legal education, and intellectual property rights is provided, and incubation space is assigned if necessary.

In the advanced stage, commercialization funds and in-depth education and counseling/coaching by type are provided to proceed with concrete commercialization, and the business model is enhanced through startup academies and pitching competitions.

In the practical stage, without education, the focus is on commercialization through startup academies, coaching, and follow-up project counseling, leading to actual startup.

Minister Oh Young-joo said, "The New Business Startup Academy is an important small business startup support project that corresponds to the first stage of fostering entrepreneurial small business owners," adding, "We will spare no support so that prospective entrepreneurs with innovative ideas can fully realize their ideas and become Lycon companies."

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