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TECHNOLOGY BASED STARTUP SUPPORT PROGRAM FOR FOREIGNERS
Technology Based Startup Support Program for Foreigners
“This is a project that generally provides startup funding, education, mentoring, marketing, and infrastructure so that the technologies and ideas of foreigners can turn into startups in Korea.”
| Eligibility | Overseas Koreans or foreigners, prep entrepreneurs or entrepreneurs who have started a company less than three years ago
* Overseas Koreans: Koreans who acquired permanent residency in a foreign country, or who are living in a foreign country permanently
* Overseas Koreans with foreign nationalities: People who used to have Korean nationalities, or their lineal descendants who acquired foreign nationalities
| Selection | April 13 (Mon) ~ June 25 (Thu), 2015
| Size of Support | For approximately 30 teams
| Details | Support for startup education, mentoring, marketing, infrastructure, and commercialization to help the startup activities of foreigners in Korea.
* Support for commercialization (startup funding) is available when the company is jointly represented by a Korean and a foreigner
|
Startup education |
Basic startup education |
Understanding the laws and regulations related to Immigration Control, understanding Korean society and laws related to startup support |
|
Education to reinforce capacity |
Understanding the intellectual property system, tax/accounting, how to write business proposals, IR education, and marketing strategies, etc. | |
|
Details of support: Support for mentoring, marketing, infrastructure (spaces providing in TIPS Campus in Yeoksam), and startup funding | ||
|
Support for commercialization |
Costs of test products, technology & information activity costs, and marketing expenses Available governmental subsidies: Up to 50 million KRW | |||
|
Area |
Support provided up to |
Agreement period | ||
|
Manufacturing |
Up to KRW 50 million |
Up to 10 months | ||
|
Knowledge service |
Up to KRW 35 million |
Up to 10 months | ||
|
Entrepreneur’s share | ||||
|
Total business expenses |
Governmental subsidies |
Entrepreneur’s share | ||
|
Money |
Product | |||
|
100% |
Up to 70% |
10% or more |
Up to 20% | |
|
Support area for business expenses: Costs for making test products, costs for startup-preparation activities, marketing expenses, etc. | ||||
| How to Apply | Submit the application and proposal through www.changupnet.go.kr
For more information: Changupnetà Startup Information à Announcement/Application
| Inquiries | Global Startup Immigration Center
Gwangju Institute of Science and Technology (GIST)
T. 062-715-2595 E. sooyoung5669@gist.ac.kr