The Ministry of SMEs and Startups on March 17 announced the application period of March 18 to April 10 for foreign startups through the Global Startup Commercialization Support Program. (iClickArt) (Unauthorized reproduction and redistribution of this image is prohibited under copyright law.)
By Lee Jihae
The Ministry of SMEs and Startups is recruiting promising foreign entrepreneurs to lead the globalization of the domestic startup ecosystem.
The ministry on March 17 announced the application period of March 18 to April 10 for the Global Startup Commercialization Support Program.
The venture seeks to help outstanding foreign startups settle in Korea to boost the global competitiveness of the domestic business environment. For the convenience of participating companies, the process from recruitment announcement and application submission to selection evaluation will be entirely in English.
The winning startups will receive average funding of KRW 50 million and a maximum of KRW 80 million for use in localization of their business models, securing intellectual property rights and marketing.
Going beyond financial support, the program will also provide specialized support in conjunction with the Global Startup Center (GSC). The startups will get opportunities to attract investment and collaborate with middle to large companies as well as a range of multifaceted benefits for growth including office space.
Applications can be submitted on the GSC's website (https://www.startup-korea.com). More information is available through the center by phone (02-3440-7345 or 02-2039-1629).
jihlee08@korea.kr