"Up to 80 Million Won in Grants"... Korea Women Entrepreneurs Association Recruits Companies for Femtech Development Project
25 Promising Femtech Companies to Be Selected
Recruitment Open Until April 30
The Korea Women Entrepreneurs Association is recruiting companies to participate in the Femtech Industry Development Project until April 30.
On April 7, the association selected CNT Tech and the Seoul Center for Creative Economy & Innovation as the project operating agencies and completed the agreement process.
The Femtech Industry Development Project is supported by the Ministry of SMEs and Startups and organized by the Korea Women Entrepreneurs Association. It aims to support 25 companies possessing femtech technologies that provide products and services to improve the quality of life throughout all stages of a woman's life.
The support includes business grants, participation in education, mentoring, and IR programs, domestic and international exhibitions, and connections to follow-up investments from the Korea Fund of Funds and venture capital. Business grants are divided into two types—technology-leading and basic application—based on product and technology level as well as business feasibility.
The 'technology-leading' type provides up to 80 million won each to 5 companies that have advanced technologies such as AI, bio, and precision diagnostics, or are promising companies with high potential for global expansion. The 'basic application' type provides up to 30 million won each to 20 early-stage companies that offer practical solutions such as apps and assistive devices closely tied to everyday life.
The grants can be used for prototype production costs, technology development service fees, intellectual property and various regulatory approval costs, and marketing expenses for promoting femtech-related products and technologies. The operating agencies, CNT Tech and the Seoul Center for Creative Economy & Innovation, also plan to make direct investments in promising companies discovered through this project.
Detailed information, including how to apply for support, can be found on the websites of the Korea Women Entrepreneurs Association, CNT Tech, and the Seoul Center for Creative Economy & Innovation.
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Chang Sook Park, President of the Korea Women Entrepreneurs Association, stated, "This year marks the launch of the Femtech Industry Development Project, and we have established a support and development system tailored to each company, from basic applications to advanced technology stages. We hope this will be a pivotal turning point for our femtech companies to secure competitiveness and take the lead in the global market."
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