Discovering Traditional Culture Pre-Entrepreneurs and Supporting Their Startup Journey

Government Launches 'Traditional Youth Pre-Startup' Contest Today

The Ministry of Culture, Sports and Tourism and the Korea Craft & Design Foundation are accepting applications for the "Today Traditional Youth Pre-Startup" program until the 28th of next month. This project aims to discover young pre-startup entrepreneurs in the traditional culture sector and support their growth into startup entrepreneurs.

The target applicants are pre-startup entrepreneurs aged 39 or younger who wish to start a business. The Ministry of Culture, Sports and Tourism will select about fifty teams through document and presentation evaluations and provide support through the professional startup incubation program, "Today Traditional Pre-Startup Academy." Over approximately four months, participants will receive practical startup education on business model development, market expansion, intellectual property rights, investment, and customized consultations on their business items.

Graduates who have refined their business plans will be reviewed to award prize money necessary for startup. The grand prize is 10 million won for one team, the excellence award is 5 million won for one team, the merit award is 3 million won each for three teams, and the encouragement award is 2 million won each for ten teams.

Lee Haedon, Director of Cultural Policy at the Ministry of Culture, Sports and Tourism, said, "All awardees will receive additional points if they apply for the 'Today Traditional Youth Early Startup Company' contest over the next five years," adding, "We will spare no policy support to help their ideas lead to commercialization and grow into outstanding traditional culture companies." For more details, please refer to the Korea Craft & Design Foundation website.