Press Conference Held at Songpa District Office on the Afternoon of the 12th... Open Recruitment for Project Participating Companies in March This Year
On the 12th at 2 PM, the '2019 Songpa Youth Startup Challenge Project Performance Presentation' was held at Songpa District Office.
[Asia Economy Reporter Park Jong-il] “Thank you for giving me this great opportunity and for your support.”
At the performance presentation of the ‘2019 Songpa Youth Startup Challenge Project’ held at Songpa District Office at 2 p.m. on the 12th, Park Chan-young, CEO of Radrewitz International (33), said this.
CEO Park manufactures and sells cosmetic skincare products. Through Radrewitz International, established in July 2018, he applied for the 2019 Songpa Youth Startup Challenge Project, overcame a 10:1 competition rate, and received 12 million KRW in business funding.
At the event, CEO Park revealed that with the support of Songpa District Office, he developed a patented ingredient for ‘cosmetics to soothe skin troubles occurring during the luteal phase,’ conducted safety tests, and proceeded with commercialization and marketing.
As a result, he added that they recently began exporting the product to Kyrgyzstan, the United States, and Chile.
Songpa District (Mayor Park Sung-soo) announced on the 13th that the ‘Songpa Youth Startup Challenge Project,’ which discovers young people with promising items and technologies and supports startups, is producing fruitful results.
The 2019 Songpa Youth Startup Challenge Project publicly recruited participating companies in July last year. A total of 46 young startup companies submitted applications. Songpa District selected four companies as project participants through a first-round document review and a second-round face-to-face evaluation. Each company received business funding ranging from 10 million to 12 million KRW.
After completing about four months of business from September to December, a performance presentation was held on the 12th. In addition to Radrewitz International, which started exporting to three countries, the following results were announced: △ Sion completed development of an eye movement play content app for growing children △ Chobless completed development of ‘Riapong,’ a effervescent probiotic drink that helps women with dieting and gut health △ Rentop is developing a big data-based real-time goods rental platform.
Outside the business fields, Chobless also announced job creation effects by employing one full-time employee and one intern.
Park Sung-soo, Mayor of Songpa District Office, said, “Young companies have achieved meaningful results despite the short business period and limited budget,” and added, “Through the Songpa Youth Startup Challenge Project, we will actively discover and support young startup companies with growth potential in 2020.”
Songpa District plans to publicly recruit participating companies for the ‘2020 Songpa Youth Startup Challenge Project’ in March. It plans to support up to 10 million KRW for five local youth companies.
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