Jungjingong, Seoul Youth Startup Academy Enrollment Open

Apply by February 8

A presentation by enrolled companies is taking place at the Seoul Youth Startup Academy Open Space located in Mokdong, Seoul.

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups and the Seoul Regional Headquarters of the Small and Medium Business Corporation (Head: Park No-woo) announced on the 21st that they are recruiting the 11th class of the 2021 Seoul Youth Startup Academy. Eligible applicants are representatives of companies under 39 years old and within 3 years of establishment. The Seoul Youth Startup Academy is recruiting 135 students and gives preferential selection to those with promising business items for global expansion and companies in the information and communication technology (ICT)-based platform sector.

The final selected startups can receive various support necessary for early-stage startups, including startup commercialization support funds of up to 100 million KRW within 70% of the total project cost, office space, prototype production infrastructure, startup education and coaching, and market development.

The Youth Startup Academy is a project that discovers excellent entrepreneurs with promising startup items and innovative technologies and supports all stages of startup as a package, establishing itself as a training ground for youth technology startups representing Korea. Unicorn companies such as Toss and Zigbang also originated from the Youth Startup Academy. Since its establishment in 2011, it has produced 4,798 young entrepreneurs, achieving cumulative sales of 4.7822 trillion KRW and creating 13,718 new jobs. Since its opening in 2018, the Seoul Youth Startup Academy has discovered and nurtured 394 entrepreneurs.

Those wishing to enter the Seoul Youth Startup Academy can apply on the K-Startup website by the 8th of next month. Park No-woo, head of the Seoul Regional Headquarters of the Small and Medium Business Corporation, said, "This will be an excellent opportunity for Seoul-based youth startup companies with innovative ideas and technologies and a spirit of challenge to grow," adding, "We will support them to realize their dreams of becoming unicorn companies and strive to create a healthy startup ecosystem."