University of Seoul's Startup Foundation participates in entrepreneurship support project
Summary
The University of Seoul’s Startup Foundation will join the government’s second-phase Startup for All Project to support aspiring entrepreneurs. The ministry-backed program will recruit 10,000 entrepreneurs, with the university serving as a mentoring institution for the general and technology startup tracks. Selected participants can receive 2 million won in support funding, AI solutions worth up to 1 million won for two months, and expert mentoring. Applications run through Sept. 17, and the university will hold workshops and an information session in September.
Key Facts
- The Startup Foundation was selected for the second phase of the Startup for All Project funded by the Ministry of SMEs and Startups.
- The second phase will recruit 10,000 entrepreneurs, twice the number recruited in the first phase.
- The University of Seoul will act as a mentoring institution for the general and technology startup tracks, where 8,000 prospective entrepreneurs will be selected.
Aspiring entrepreneurs can apply for government-funded program
A poster for the second phase of the “Startup for All Project” funded by the Ministry of SMEs and Startups / Courtesy of University of Seoul
The University of Seoul’s Startup Foundation will help foster innovative entrepreneurs by taking part in the government’s large-scale entrepreneurship support program, according to the university.
The university said the foundation has been selected for the second phase of the “Startup for All Project” funded by the Ministry of SMEs and Startups.
The project is designed to support aspiring entrepreneurs with innovative ideas in pursuing their startup ambitions.
A total of 10,000 entrepreneurs will be recruited for the second phase of the project, twice the number recruited for the first phase.
The university noted that it will serve as a mentoring institution for the general and technology startup tracks, in which 8,000 prospective entrepreneurs will be selected.
Selected entrepreneurs will receive government-backed benefits, including 2 million won ($1,448) in startup support funding and customized artificial intelligence (AI) solutions worth up to 1 million won for two months, as well as mentoring from experts.
The application period runs through Sept. 17. Eligible applicants include aspiring entrepreneurs and existing entrepreneurs with up to seven years of business experience who are seeking to start a business in a new field.
Applications can be submitted online through the Startup for All Platform (modoo.or.kr).
As an institution specializing in urban problem-solving, the university is significantly lowering the barriers to entrepreneurship. The program's slogan is “Anyone Can Launch: Just Bring Your Idea!”
Applicants do not need expertise in highly specialized fields such as AI, semiconductors or biotechnology. Anyone with an idea to address inconveniences in everyday life is eligible to apply.
“Even without exceptional technical expertise or specialized skills, anyone with an idea they want to turn into a solution can pursue their entrepreneurial dream with the university’s systematic support,” said a university official.
He added, “We hope that people with innovative ideas will take a keen interest in the program and embrace the opportunity to turn their ideas into reality.”
In addition, the University of Seoul will offer a range of specialized programs to help applicants successfully advance through the selection rounds.
For prospective entrepreneurs who need assistance with the application process, the university will hold its “One-Day, One-Stop Business Plan Workshop” at 2 p.m. on Sept. 1, 9 and 15 at the SI Arena Hall in the basement of the university’s Creative Innovation Building.
The workshops will provide support throughout the process, from preparing a business plan to submitting an application.
The university will also host an information session on Sept. 10 to provide detailed guidance on the project.
Those who advance to subsequent rounds will receive one-stop support encompassing education and incubation services similar to those offered to startups currently under the university’s incubation program.
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