Productivity Headquarters Recruiting Participants for Lifestyle Innovation Startup Support Project

Prevention of Overcrowding in Livelihood Businesses and Support for Creating New Jobs

[Asia Economy Reporter Kim Cheol-hyun] The Korea Productivity Center (KPC, Chairman Noh Gyu-seong) announced on the 10th that it is recruiting participants for the 'Lifestyle Innovation Startup Support Project,' which supports small business owners with innovative ideas in daily life.

Lifestyle innovation startups refer to startup fields with high success potential that apply innovative ideas from daily life in niche markets newly formed due to changes in consumer trends. The Lifestyle Innovation Startup Support Project aims to promote such startups to prevent overcrowding in livelihood-type industries and create new jobs.

Anyone who is a prospective entrepreneur without business registration as of the application date and possesses a lifestyle innovation idea that can be immediately commercialized is eligible to apply. Suitability for startup, entrepreneur capability, innovativeness, and business feasibility will be evaluated through written and face-to-face assessments.

The Korea Productivity Center, as the operating institution of the Lifestyle Innovation Startup Support Project, plans to select about 1,000 lifestyle innovation entrepreneurs nationwide this year and support their startups. Selected prospective entrepreneurs will receive customized mentoring and startup support funds in the form of loans up to 20 million KRW.

Kim Dong-san, Head of the Job Innovation Center at the Korea Productivity Center, said, "In a difficult environment for small business owners both domestically and internationally, this project will be a good opportunity for lifestyle innovation entrepreneurs by lowering the barriers to fear of startup failure and funding procurement."