Summary of how to apply for Youth Entrepreneurship Support Fund
청년창업지원금 신청방법
Youth Entrepreneurship Support Fund is a variety of support programs that can be used at better conditions than products used by banks in order to help the government a little bit with the challenges of young people who do not have enough financial space. In this article, we will look at the types of youth entrepreneurship grants and how to apply for them.
Youth Entrepreneurship Support Fund
Types of Youth Entrepreneurship Support Funds
The youth entrepreneurship support fund has various programs for each stage of entrepreneurship. We provide customized support for pre-entrepreneurs, early-stage entrepreneurs, and start-ups in a leap phase, so please choose the appropriate program according to your situation.
1. Start-up fund support for young people
Start-up fund support for young people is a program that supports start-up funds with a 2% loan interest rate from the Small and Medium Venture Business Corporation. If you are a small business under the age of 39 and have been in business for less than 3 years or a prospective entrepreneur, you can receive youth-only start-up funds. The loan interest rate is fixed at 2% per annum, and the interest burden is low, and you can get a loan of less than KRW 100 million per company.
Loan applications are available at the Small and Medium Venture Business Corporation, which conducts education and consulting for applicants, evaluates business plans, etc., determines loan targets, and provides start-up funds.
2. Pre-startup package
The preliminary start-up package is a program organized by the Ministry of SMEs and Startups to discover and nurture prospective entrepreneurs equipped with innovative items or technologies, and to support commercialization funds and start-up education mentoring. The target of support is pre-entrepreneurs and the scale of support is 1,530 people. The contents of support include commercialization funds, entrepreneurship training, and mentoring required for commercialization of start-ups.
3. Initial startup package
The initial start-up package is a program that actively supports youth start-up subsidies and demand-based programs for start-up companies to commercialize items for entrepreneurs within 3 years of start-up through a host organization with start-up competence. Support targets are start-up companies with less than 3 years of business history, and the scale of support is around 960 companies. Support includes commercialization funds (up to KRW 100 million) required for prototype production, acquisition of intellectual property rights, and marketing.
4. Start-up Leap Package
The start-up leap package is a program that supports commercialization and growth promotion programs such as business model improvement, specialized programs for each field, and advancement of business items in order for start-up companies in the take-off stage (3-7 years) to overcome Death Valley and create results through scale-up. no see. Targets for support are entrepreneurs within 3-7 years of starting their business, and the scale of support is around 1,080 companies. Support includes up to 300 million won for business model improvement and advancement of business items, and up to 100 million won for customized growth promotion programs.
5. Startup Success Package (Global Startup Academy)
The Startup Success Package (Global Startup Academy) was newly established in 2020 to discover entrepreneurs with less than 3 years of business experience who have promising start-up items and innovative technologies in the field of artificial intelligence. If you have promising start-up items in the field of artificial intelligence, you can receive support for the business to grow into a global artificial intelligence start-up company by providing world-class technical training and various programs. The target of support is a (preliminary) start-up team in the artificial intelligence field with less than 3 years of business experience, and the size of support is 60 teams.
How to apply for Youth Entrepreneurship Support Fund
How to apply for the Youth Entrepreneurship Support Fund is as follows.
1. Access the K-Startup website, sign up for membership and log in.
2. Select the desired business from the Business Application Management menu and click Apply for Entrepreneur.
3. Enter basic information and prepare and attach a business plan.
4. Enter your team member information and click Submit.
Advantages of Youth Entrepreneurship Support Fund
The advantages of the Youth Entrepreneurship Support Fund are as follows.
You can reduce your financial burden. Youth Startup Support Fund can be used with better conditions than products used by banks, and some programs are supported free of charge.
You can receive mentoring from entrepreneurship experts. Youth Entrepreneurship Support Fund provides entrepreneurship education and mentoring by entrepreneurship experts to help entrepreneurs strengthen their capabilities and solve problems that may arise in the process of commercialization.
You can participate in various entrepreneurship programs. Youth Entrepreneurship Support Fund operates various programs tailored to each stage of entrepreneurship, and provides various opportunities for entrepreneurs to grow, such as global advancement, technology development, and human resource development.
Youth Entrepreneurship Support Fund is a variety of support programs that can be used at better conditions than products used by banks in order to help the government a little bit with the challenges of young people who do not have enough financial space. It can be said that it is a very useful and helpful policy for young people who are preparing and planning to start a business.