Up to 300 Million KRW Support for Equipment Purchase, Product Development, Branding, and Marketing
to Enable Joint Commercialization
Pilot Project in the 'Region-Based Cooperative' Sector
On the 30th, the Ministry of SMEs and Startups announced the selection of 85 cooperatives as recipients of the 2024 "Small Business Collaboration Activation Joint Project," aimed at enhancing competitiveness through collaboration.
The "Small Business Collaboration Activation Joint Project" supports cooperatives or collaborative groups composed of at least five members, with more than 50% of the total members being small business owners. The support includes joint trademark (brand) development, marketing, networking (websites, applications, etc.), franchising, and joint equipment purchases.
Previously, the project selected cooperatives mainly based on their years in operation. However, starting this year, the selection criteria have been divided into two stages?growth and leap?based on sales revenue to discover and nurture cooperatives with growth potential, even if they have a shorter business history. Applicants can freely apply for their desired stage.
Additionally, a new category called "region-based cooperatives" was established to enable cooperatives to participate as key agents in solving and revitalizing local commercial districts.
This year, 144 cooperatives applied for the Small Business Collaboration Activation Joint Project. After the first stage of eligibility review and document evaluation, the second stage of on-site verification, and the third stage of presentation evaluation, a total of 85 cooperatives were finally selected.
In the "growth stage," 61 cooperatives were selected, including the Craft Helper Cooperative, which planned to expand online sales channels for craft products based on storytelling enhanced with photos. In the "leap stage," 24 cooperatives were selected, including the "Clear, Bright, and Warm Cooperative," which is preparing to develop convenient liquid teas using local specialties such as yuzu, pomegranate, and ginger as raw materials.
The "Cheongju Uncheon-dong Youth Merchants Cooperative," selected as a newly established region-based cooperative this year, received favorable evaluations for planning travel programs highlighting local features such as the Uncheon-dong Cat Tour and village events for residents, aiming to attract visitors to the local commercial district and invigorate the area.
Lee Dae-geon, Director of Small Business Policy at the Ministry of SMEs and Startups, stated, "Small business cooperatives contribute to strengthening mutual cooperation and solidarity among small business owners and revitalizing local communities by realizing economies of scale through collaboration and organization. We hope that the Small Business Collaboration Activation Project will serve as a catalyst to enhance the competitiveness of small business owners and boost the vitality of local commercial districts."
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