Support Including Up to 100 Million KRW Commercialization Funds for 30 Participants
[Asia Economy Reporter Donghyun Choi] The Korea Tourism Organization announced on the 5th that it is participating as the lead institution in the ‘Pre-Startup Package Support Project’ promoted by the Ministry of SMEs and Startups, and is recruiting prospective entrepreneurs challenging startups in the smart tourism sector until the 19th.
The Pre-Startup Package is a project that supports commercialization funds, startup education, mentoring, and more to facilitate the smooth initial commercialization of prospective entrepreneurs with innovative technology startup ideas. Since 2019, the organization has discovered and nurtured a total of 47 prospective entrepreneurs. Since last year, it has been recruiting prospective entrepreneurs specialized in the ‘smart tourism’ sector, which combines core technologies and the tourism industry.
Applicants must apply with innovative tourism startup items that combine technologies such as big data, holograms, and mobility with tourism to provide differentiated experiences, convenience, and services to tourists. There is no age limit, and applicants must be prospective entrepreneurs who have no startup experience (regardless of industry) as of the announcement date (March 30) or those who do not own a business under their name. However, if a person with a business closure experience starts a business in a different industry, it is allowed, but if they want to start a business in the same industry, more than 3 years must have passed since closure, and more than 2 years since bankruptcy or insolvency.
Document and presentation evaluations will be conducted based on the motivation for developing the startup item, commercialization strategy, market entry, and performance creation strategy. The final 30 selected prospective entrepreneurs will receive up to 100 million KRW in startup commercialization funds, startup capability enhancement education, and dedicated mentoring from startup and management experts. Additionally, after starting the business, they can receive support for promotion and market development using the organization’s domestic and international networks.
Andeoksoo, Head of the Tourism Enterprise Division at the Korea Tourism Organization, emphasized, “This year, we have strengthened nurturing programs such as market response verification to increase the commercialization potential of startup items. This contest focused on smart tourism will be a very good commercialization opportunity for prospective entrepreneurs.”
For more details, please refer to the announcement guidelines on the K-Startup website and the announcement and contest section on the organization’s website. Applications can be submitted by filling out the business plan form on the K-Startup website and selecting ‘Korea Tourism Organization’ as the lead institution.
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