Geumcheon-gu to Recruit Startups for 'Geumcheon Youth Dream Center' Residency Until the 31st

Office and Expert Consulting... Up to 3 Years Residency
Chung-Ang University Industry-Academic Cooperation Foundation Incubation Program Provided

Perspective view of Geumcheon Youth Dream Center. Provided by Geumcheon-gu.

Geumcheon-gu, Seoul (Mayor Yu Seong-hoon) is recruiting 16 companies wishing to move into the 'Geumcheon Youth Dream Center' to support prospective entrepreneurs and early-stage startups until the 31st of this month.

The 'Geumcheon Youth Dream Center' (22-5, Beoman-ro 15-gil, Geumcheon-gu) was established to create an ecosystem that can activate youth entrepreneurship in the region and generate jobs, and is scheduled to open at the end of June.

They are recruiting 16 companies in a total of three fields: technology startups such as Information and Communication Technology (IT) and Biotechnology (BT), specialized startups such as robotics and medical bio, and general startups such as fashion, culture, and education. Applicants in the technology and specialized startup fields will receive an additional 3 points.

Resident companies will be finally selected through the first document screening and the second presentation evaluation. The residency period is initially one year and can be extended up to three years depending on the extension evaluation results. The residential spaces consist of one room for 7-8 people, two rooms for 4-5 people, and thirteen rooms for 2-3 people, all designed as independent spaces.

The district office plans to operate various nurturing support programs to help the stable growth of youth startup resident companies. Programs such as growth and incubation programs for resident companies, linkage with related organizations and government support projects, and expert consulting will be provided, and support will be given to use the residential space at a low management fee. Utilizing the startup incubation know-how of Chung-Ang University Industry-Academic Cooperation Foundation, systematic support for nurturing startup companies will be actively provided.

Anyone who is a youth startup company under 39 years old (within 7 years of business registration as of the announcement date) or a prospective entrepreneur can apply. Applicants can check the application documents and details on the Geumcheon-gu Office or Chung-Ang University Industry-Academic Cooperation Foundation websites and apply by email by 5 p.m. on May 31.

The 'Geumcheon Youth Dream Center' was built to discover startups that leverage the district's strengths and to establish a sustainable startup ecosystem through step-by-step support such as incubation and growth. The facility size is 1,261㎡ from basement level 1 to ground level 9, equipped with 16 independent resident facilities and common facilities.

Mayor Yu Seong-hoon said, "The Geumcheon Youth Dream Center will greatly help young people achieve their dreams," and added, "We will continue to actively discover spaces and programs for Geumcheon-gu youth to realize their dreams and support youth entrepreneurship."