Geumcheon-gu Provides 20 Million Won Each to 5 Promising Youth Startup Companies for Commercialization Funding

Geumcheon-gu Announces Call for Participants in the '2024 Youth Entrepreneur Leap Support Project'
Five Youth Startup Companies Selected, Each Receiving 20 Million KRW for Commercialization
Recruiting in Advanced Manufacturing, ICT Technology & Services, Life & Health, Eco-friendly & Energy Sectors
Check Announcement on Geumcheon-gu Office Website and Apply via Email by July 3

Geumcheon-gu (Mayor Yu Seong-hoon) announced that it is recruiting five youth startup companies to participate in the 'Geumcheon Youth Entrepreneur Leap Support Project' contest until July 3.

The 'Geumcheon Youth Entrepreneur Leap Support Project' is a new initiative that discovers youth startup companies with growth potential within the region and provides commercialization funds.

It was established to offer development opportunities to young companies with excellent ideas and technological capabilities and to encourage them to settle locally, thereby revitalizing startups in the area.

Selected companies will receive 20 million KRW in commercialization funds per company. These funds can be used for prototype production costs, market development and promotion expenses, intellectual property application and registration fees, and various certification acquisition costs.

Applications are open in five fields: advanced manufacturing, information and communication technology (IT) and services, life and health, eco-friendly energy, and others (including manufacturing industries such as clothing, textiles, and sewing, as well as culture, sports, content, education, and knowledge industries).

Youth startup companies located in Geumcheon-gu within seven years of establishment or companies residing (or scheduled to reside) in Geumcheon Youth Dream Center are eligible to apply. Companies wishing to apply should check the recruitment announcement on the 'Geumcheon-gu Office' website and submit the required documents via email by July 3.

The district will select target companies through a first-round document evaluation (selecting twice the number of candidates) and a second-round presentation evaluation, followed by a review by the Geumcheon-gu Local Subsidy Deliberation Committee. The final selected companies will be announced in early August. Companies residing (or scheduled to reside) in the Geumcheon Youth Dream Center, which is set to open in July this year, will receive special benefits in the form of additional points during the second presentation evaluation.

Yu Seong-hoon, Mayor of Geumcheon-gu, said, "We ask for the interest and participation of many companies in this project aimed at discovering and nurturing promising youth startups in the region," adding, "We will develop the startup ecosystem centered around the G-Valley industrial complex and Geumcheon Youth Dream Center to create 'Geumcheon, a city good for business.'"