Incheon City will actively implement the "2025 Youth Overseas Expansion Base Support Project" to help local young entrepreneurs enter the global market.
Starting from April 21 until May 8, the city will recruit 25 young entrepreneurs who wish to expand overseas and will provide systematic, customized support, including assistance for localizing their startups.
Eligible applicants are young people under the age of 39 who have founded a technology-based startup within the past seven years. Any prospective entrepreneur residing in Incheon or any young entrepreneur whose business has been established in Incheon for less than seven years is eligible to apply.
The city has selected Vietnam and Malaysia as target countries and recently signed agreements with professional startup planners who possess extensive local networks and experience in supporting overseas expansion in these countries.
Fifteen of the selected participants will receive support throughout the entire process, from global acceleration both domestically and abroad to local market adaptation. The remaining ten will be assisted in preparing for and challenging overseas expansion through participation in international exhibitions and similar opportunities.
This project began in 2023, when ten young entrepreneurs took their first steps into Mongolia and Vietnam. Last year, a total of twelve participants entered three countries? the United States, Singapore, and Vietnam? through tailored consulting for each company, global acceleration, and up to 100 million won in commercialization funding per company.
As a result, the program achieved tangible outcomes, including the establishment of two overseas subsidiaries in the United States and Vietnam, the signing of 33 agreements such as MOUs, attracting investments totaling 20.1 billion won, exports amounting to 577,525 dollars, and 72 patent applications and registrations.
An official from Incheon City stated, "We will provide various opportunities for young people to expand overseas so they can grow into competitive talent on a broader stage, and we will go beyond simple startup support to help them develop the resilience needed to thrive in the international arena."
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