KOCCA to invest 10 bil. won in content startups
gettyimagesbank
By Park Han-sol
The government will invest a total of 10 billion won ($8.7 million) this year to support content startups, the Korea Creative Content Agency (KOCCA) announced Wednesday.
Divided into six tracks, KOCCA's program aims to provide financial and production support to startups at different stages ― pre-stage, early stage (less than three years since its founding), mid-stage (three to seven years since its founding) and companies that are restarting ― through professional consulting, business matching and marketing services.
One of the main focuses of this year's program is the role that content startups can play in the Digital New Deal, the government's initiative for the digital economy. Accordingly, the agency has specified some program categories to support social ventures, startups specializing in digitization and innovative technology in response to the contactless boom.
KOCCA will also continue seeking cooperation with major firms of the private sector to find content startups and foster their growth. This year's program is joined by CJ ENM, Lotte World and Lotte Cultureworks.
CJ ENM will look for companies that can contribute to the future development of the over-the-top (OTT) service. Lotte World is interested in startups that can be involved in theme parks and “edutainment” platforms, while Lotte Cultureworks seeks to support startups with an innovative business model applicable to the film industry.
Last year, KOCCA's investment led to the growth of 113 content startups, which in turn has created nearly 780 jobs despite the ongoing pandemic.
Startup companies can visit
for more information about the program and apply online until March 23.