Kookmin to lead startup assistance

By Chung Hyun-chae

Kookmin University will receive up 2.5 billion won ($2.31 million) in annual subsidies from the Small and Medium Business Administration (SMBA) over three years to support students launching their own startups.

Kookmin announced Tuesday that the administration has designated the school to be a leading university for startup support.

The school established a startup support office in January 2014 to help students turn their business ideas into reality.

This office has run three programs to help startups ― a startup funding program, a startup education program and a regional support program.

Anyone who seeks to launch their own business can apply for the programs, regardless of whether they are a college student.

“With the startup funding program, we will assist up to 34 teams or individuals in putting their ideas into practice and will subsidize them with the funding,” said a school official.

The official said that the school will also create 15 lectures on startup business, 10 of which are for collegians and five for people at large, as part of the startup education program.

“We also offer a regional support program to help certain groups of people including women, the underprivileged and foreigners,” the official said.

Given that the school is located in northern Seoul, it will focus on assisting those living in nearby areas, according to the school.