University of Seoul's Startup Support Foundation participates in entrepreneurship project
Summary
The University of Seoul’s Startup Support Foundation will join the government’s second-phase Startup for All Project to help foster innovative entrepreneurs in Seoul. The foundation was selected by the Ministry of SMEs and Startups to mentor the general and technology startup tracks. Applicants can apply through Sept. 17 for funding, AI services and mentoring support.
Key Facts
- A total of 10,000 entrepreneurs will be recruited in the project’s second phase, twice the number in the first phase.
- The University of Seoul will serve as a mentoring institution for the general and technology startup tracks, which will select 8,000 prospective entrepreneurs.
- Selected entrepreneurs will receive 2 million won in startup support funding, customized AI solutions worth up to 1 million won for two months, and expert mentoring.
- Eligible applicants include aspiring entrepreneurs and existing entrepreneurs with up to seven years of business experience who want to start a business in a new field.
- The university will hold One-Day, One-Stop Business Plan Workshops at 2 p.m. on Sept. 1, 9 and 15 at the SI Arena Hall in the Creative Innovation Building basement.
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 Support 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 Start a Business! 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 Workshops” 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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