Support Provided to 9 Teams, Including 7 Million KRW in Startup Funds
Asan Nanum Foundation announced on the 18th that it has selected 9 teams to participate in the 'Chung Ju-yung Startup Competition - Diversity Track (Asan Sanghoe),' which supports North Korean defectors, immigrants, and foreign entrepreneurs.
Asan Sanghoe is an accelerating program of the Chung Ju-yung Startup Competition's 'Diversity Track.' It aims to support entrepreneurs from diverse backgrounds such as North Korean defectors, immigrants, and foreigners to become self-reliant and grow through entrepreneurship, while promoting social inclusion and expanding diversity in the startup ecosystem.
Asan Nanum Foundation announced on the 18th that it has selected nine teams to participate in the 'Chung Ju-yung Startup Competition - Diversity Track (Asan Sanghoe).' Asan Nanum Foundation
The participating teams are either pre-startup teams or early-stage startups established within 7 years, with the representative belonging to one of the categories: North Korean defector, immigrant, or foreigner. Among the selected teams, 5 are led by North Korean defectors and immigrants, and 4 are led by foreigners. They operate businesses in various fields such as food tech, marketing, education, and lifestyle.
The foundation provides tailored one-on-one incubating support considering their linguistic and cultural backgrounds, initial commercialization funds of 7 million KRW, insight lectures, pitching consulting, and investment linkage. Some of the selected teams will advance to the Chung Chang-kyung Diversity Track Demo Day after the final judging, and the final 5 teams will receive a total prize of 59 million KRW, including the grand prize and excellence awards, on the integrated Demo Day stage in the second half of the year.
An official from Asan Nanum Foundation said, "This year, we expanded opportunities for entrepreneurs from diverse backgrounds, including immigrants and foreigners, in addition to North Korean defectors," and added, "We will wholeheartedly support the selected Asan Sanghoe teams to unfold new possibilities."
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