Seongnam City Recruiting 50 Teams for Youth Startup Project "THE Waffle"... Total Budget of 100 Million Won

Initial Startup Funding of Up to 2 Million Won per Team
Comprehensive Support Throughout the Entire Process, Including Crowdfunding and Marketing

Seongnam City, Gyeonggi Province (Mayor Shin Sang-jin), will be recruiting 50 teams to participate in its youth entrepreneurship capacity-building project, "THE Waffle," from April 27 to May 26.

Poster for Seongnam City Youth Startup Project 'THE Waffle' Recruiting 50 Teams. Provided by Seongnam City

"THE Waffle" is a project name that combines the crowdfunding platform "Wadiz" and "entrepreneur (player)." It is a youth entrepreneurship support program now in its fourth year, operated through the collaboration between Seongnam City and Wadiz Co., Ltd. (CEO Shin Hye-seong).

This project will be implemented with a total budget of 100 million won. The city will provide selected teams with up to 2 million won in initial startup funding, and will offer comprehensive support throughout the startup process, including fundraising through crowdfunding and establishing marketing strategies.

Eligible applicants are young people in the Republic of Korea between the ages of 19 and 39 who are preparing to start a business. Teams of two or more members may apply.

Supported sectors include clothing, household goods, beauty, housing and lifestyle, sports, outdoor activities, food, books, e-books, courses, design, and pet-related businesses.

The selected teams will receive support for six months from June to November at youth co-working spaces within the Seongnam Youth Foundation. The program will be led directly by Wadiz employees and will include practical education on entrepreneurship capacity and fundraising, hands-on training for concretizing ideas and developing strategies, business advancement, and the initiation and operation of real-world fundraising.

Youth startup teams wishing to participate should complete a project proposal and application form during the recruitment period and submit them via email to the designated contact person.

Seongnam City will select the participating teams through interviews on May 30 and 31, and the final results will be announced on June 5.

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