The Korea Communications Commission announced on the 15th that it will promote the 'Location Information Excellent Business Model Discovery Project' together with the Korea Internet & Security Agency.
Since 2017, the KCC has been carrying out this project annually to support small and micro enterprises and startups with excellent business models in the location information field to successfully settle in the location information industry market.
The Location Information Excellent Business Model Discovery Project is divided into two areas: the Korea Location Information Excellent Business Model Discovery Contest and cloud infrastructure support. The contest is divided into an idea category for individuals and groups under the age of 34, and a commercialization support category for small and micro businesses in the commercialization and business stages.
The newly established idea category this year awards certificates and prize money to discover and encourage original ideas from young people under 34 who dream of starting a business. The total prize money is 17 million KRW. Development costs for concretizing ideas are also supported separately.
The commercialization support category selects a total of 24 businesses. Certificates and prize money (total prize money of 130 million KRW) are awarded.
The cloud infrastructure support category supports business model diagnosis, establishment of business cooperation relationships, and cloud-based software development test environments for startups less than three years old and prospective entrepreneurs in the prototype planning and development stage.
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