Ministry of SMEs and Startups Announces Integrated Notice for '2023 Women Entrepreneurs Development Project' with a Budget of 10 Billion KRW

[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 4th that it will release an integrated announcement for the '2023 Women Entrepreneurs Development Project.'

This year, in response to changes in the business environment, online education and consulting programs have been expanded. Additionally, the related budget exceeded 10 billion KRW for the first time, including the establishment of the new 'Future Women Entrepreneurs Development' project, where successful women CEOs pass on their real-world experience and know-how to prospective women entrepreneurs. The main projects include a total of 12 programs such as support for women startups, domestic and overseas market access for women-owned businesses, and management support for women enterprises.

Looking at the main contents of the project, first, through the Women Startup Incubation Centers established in 18 regions nationwide, startup spaces are provided to women entrepreneurs and startups less than three years old. Mentoring and consulting necessary for business management are also provided.

In addition, a 'Women Startup Competition' is held for women entrepreneurs to support outstanding companies with commercialization funds and investment attraction. A 'Women Startup Accelerating' program is also operated to help them grow into global companies.

To secure the domestic market for women-owned businesses, efforts will be made to help women-owned products enter home shopping channels and online platforms. The mandatory purchase system for women-owned products by public institutions will also continue to help women enterprises enter the public procurement market.

Finally, through the 'Women Enterprise Professional Matching Platform,' women-owned businesses are connected with professionals to help resolve labor shortages. A 'Women Enterprise Management Difficulty Support Center' is also established where women entrepreneurs facing management difficulties can consult with experts.

Furthermore, the 'Senior Women CEO Mentoring' program is operated, where senior women CEOs act as mentors to support junior women entrepreneurs in reducing risks encountered in the early stages of their business.

Jae-kyung Shin, Director of the Corporate Environment Policy Division at the Ministry of SMEs and Startups, stated, "In the context of low birth rates and aging population, women-owned businesses are gaining attention as key players in future economic growth," and added, "We hope the Women Entrepreneurs Development Project will greatly help the growth of women-owned businesses."

Women entrepreneurs and women-owned businesses wishing to participate in the project can check detailed schedules and application methods on the Ministry of SMEs and Startups website or the Women Entrepreneurs Comprehensive Support Portal before applying.