Seongnam City to Support Re-Entrepreneurship Youth with up to 30 Million Won

Seongnam City Youth Re-Startup Support Information Poster

Seongnam City in Gyeonggi Province is accepting applications from (prospective) re-entrepreneurs to participate in the 'Youth Re-Startup Support Project' until the 12th of next month.

This project is promoted as part of the plan to create 'Seongnam, a Special City for Youth Startups,' providing mentoring, startup education, and up to 30 million KRW in commercialization funds to young people who have experienced failure in startups to help them recover. The support scale is 7 individuals (teams).

Eligibility includes prospective re-entrepreneurs aged 19 to 39 who reside in Seongnam or have previously started a business in the area, as well as re-entrepreneurs within one year. There is no limit on the number of members in a team.

Support is provided for technology startups that create markets with innovative technologies or new ideas, producing and selling products or services.

Through business diagnosis, necessary experts are matched, and about three months of startup education is provided, including business plan refinement, conversion to corporate business entities, and team-based networking with similar businesses.

Seongnam City selects 7 individuals (teams) through document and presentation evaluations, then holds a startup presentation (PT) contest at the Seongnam Global Convergence Center in June, awarding commercialization funds of 30 million KRW for the grand prize, 20 million KRW for the top prize, and 15 million KRW for excellence. The remaining 4 individuals (teams) each receive 10 million KRW in commercialization funds.