Ministry of Oceans and Fisheries Supports Consulting for Small and Venture Marine and Fisheries Companies

Applications Open Until the 6th of Next Month for 'Commercialization and Investment Attraction Consulting Program Support Companies'

Extra Points for Companies Proposing in Digital and Non-Face-to-Face Fields

[Sejong=Asia Economy Reporter Ju Sang-don] The Ministry of Oceans and Fisheries and the Korea Institute of Marine Science and Technology Promotion announced on the 4th that they will conduct a consulting support project to strengthen the capabilities of small and venture marine and fisheries companies.

This consulting support is divided into the 'Commercialization Consulting Program' and the 'Investment Attraction Consulting Program.' The Commercialization Consulting Program supports business model establishment, domestic and international market research, and marketing strategy development, while the Investment Attraction Consulting Program provides support from company diagnosis-based financial strategy design, basic education on investment attraction, customized investment attraction strategy development, to investor matching.

The Ministry of Oceans and Fisheries will start recruiting simultaneously with the announcement on the 5th and accept applications until July 6th. After investigating the eligibility of applicant companies, a review committee will be held in July to select around 14 companies (9 for commercialization consulting and 5 for investment attraction consulting) as support targets.

This year, to foster companies in the digital and non-face-to-face sectors, which have gained attention due to the impact of the novel coronavirus disease (COVID-19), extra points will be awarded to companies proposing related projects. Additionally, to reduce the burden on companies, the corporate contribution, which is about 10% of the government support fund, will be fully waived.

Last year, the 17 companies supported through the consulting support project achieved results such as an average sales increase of 117% and a 24% increase in employment.