210 Individual Companies and 24 Collaboration Teams Selected
The Ministry of SMEs and Startups announced on the 26th that it is recruiting capable local value entrepreneurs (Local Creators) to participate in the '2025 Local Creator Development Project.'
Since 2020, the Ministry has established this project to discover and nurture local value entrepreneurs in order to expand startup opportunities for local youth and revitalize the regional economy.
The Local Creator project has recorded a high competition rate of 20 to 1 last year, and among the cumulative supported companies, 59.6% are under their 30s and 80.0% are from non-metropolitan areas, showing strong interest from youth in non-metropolitan regions.
For the Local Creator 'Individual Track,' any small business owner who meets the conditions can apply. Up to 40 million KRW in commercialization funds are provided. For the 'Collaboration Track,' small business owners who meet the definition and requirements of Local Creators can form a team of two or more companies with one as the representative and apply for the project, receiving up to 70 million KRW in commercialization funds.
If selected for this year's Local Creator support project, participants can receive linked support next year through ▲Strong Small Business Growth Support Project ▲Private Investment-Linked Matching Loan ▲Innovative Small Business Investment-Linked Support Project, with funding up to 900 million KRW.
Additionally, the project is linked with the Ministry of the Interior and Safety's Youth Village Creation Project and Living Area Unit Local Branding Activation Support Project, the Ministry of Culture, Sports and Tourism's Cultural City Support Project, and the Korean Intellectual Property Office's Comprehensive Support Project for Intellectual Property (IP) Creation, helping Local Creators grow into local brands in their regions.
Lee Dae-geon, Director of Small Business Policy, stated, "Through generous support, we will prevent regional extinction, revitalize the regional economy, and create premium glocal cities sought after by people worldwide."
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