Ministry of Oceans and Fisheries Holds Briefing on 'Marine and Fisheries Startup and Investment Support Project'... Total Support of 2.1 Billion KRW This Year

[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Oceans and Fisheries and the Korea Institute of Marine Science and Technology Promotion announced on the 21st that they will hold briefing sessions on the 'Marine and Fisheries Startup and Investment Support Project' on the 30th (Busan Asti Hotel) and the 31st (Seoul L Tower).

The Marine and Fisheries Startup and Investment Support Project is conducted to support the growth of startup companies (including prospective startups) and small and venture companies engaged in the marine and fisheries sector and to create an investment ecosystem in marine and fisheries. It is organized and operated by the Korea Institute of Marine Science and Technology Promotion, the dedicated agency for marine and fisheries startups and investments.

This year, a total budget of 2.1 billion KRW will be invested to provide support for five detailed projects: ▲Marine and Fisheries Startup Planners ▲Commercialization Funds ▲Commercialization Consulting ▲Investment Attraction ▲Investment Consulting.

The operation of Marine and Fisheries Startup Planners was introduced for the first time last year. It utilizes private startup support specialized companies called startup planners to provide comprehensive nurturing services such as initial investment, consulting, and management advice to startup companies.

The amount of commercialization funds supported per company has increased from 20 million KRW last year to 25 million KRW this year. For commercialization consulting, unlike last year, it will be divided into preparation and execution stages to provide consulting needed for each growth stage.

Additionally, for marine and fisheries companies struggling to attract investment funds, opportunities to attract investment will be provided targeting venture capital firms, and investment consulting will also be supported to design funding structures and strengthen investment attraction capabilities.

In this project briefing session, besides the detailed contents of the Marine and Fisheries Startup and Investment Support Project, marine and fisheries technology transactions and commercialization systems, R&D projects exclusively for small and medium enterprises, and marine and fisheries technology certification and evaluation systems will also be introduced, along with one-on-one consultations.

Startup companies and small and venture companies wishing to apply can check the announcement details and application methods for the support project through the newly created Marine and Fisheries Startup Investment website. In the future, this website will also provide information on marine and fisheries companies and marine and fisheries startup and investment policies.

Kim Jae-cheol, Director of Marine Industry Policy at the Ministry of Oceans and Fisheries, said, "I hope that marine and fisheries startup companies and small and venture companies can grow one step further through this support project," and added, "We will make further efforts to activate startups and investments in the marine and fisheries sector to lead innovative growth and the creation of quality jobs."