BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) The Korea Institute of Ocean Science & Technology (KIOST) said on April 8 that it has been chosen as a managing institution for "2019 Entrepreneurship Package Program" hosted by the Ministry of SMEs and Startups. It will support about KRW 1.1 billion commercialization funds and mentoring to would-be entrepreneurs in the ocean and maritime fields.

The Entrepreneurship Package Program is designed to support would-be entrepreneurs under 39 years old by providing up to KRW 100 million funds. The program is divided into general fields and the fourth industry fields.

KIOST has been named as a managing institution for the fourth industry field, and plans to select 20 prospective entrepreneur teams in the ocean and maritime fields, such as energy, new materials, and smart ships.

It will finish the selection process in May, followed by provision of mentoring, education on establishing a business, and networking program.

The companies established based on this program will continue to receive support in connection with "Maritime New Industry Incubating Program" run by the Korea Institute of Marine Science & Technology Promotion.


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** This article was translated from Korean.

Source: Yonhap News (April 8, 2019)