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The annual announcement for the 2024 Preliminary Entrepreneur Package has officially been released.

Today, we will take a detailed look at the key details of this announcement.

First, what is the Preliminary Entrepreneur Package? As many of you may already know, the Preliminary Entrepreneur Package is a government-backed support program administered by the Ministry of SMEs and Startups. It is designed to identify and support aspiring entrepreneurs with innovative technologies and business models (BM). During the program period, selected applicants receive funding and various resources to help materialize their ideas into actual products.

The Preliminary Entrepreneur Package has returned for 2024. While the program structure remains consistent with previous years, let's review the specific details closely.

Program Overview

• Objective: To support the successful establishment of startups by aspiring entrepreneurs with innovative technologies and business models (BM), thereby creating high-quality jobs.

• Eligibility: Aspiring entrepreneurs (pre-founders)

• Support Offered: Commercialization funding (up to 100 million KRW, average of 50 million KRW), startup acceleration programs, etc.

  

• Agreement Period: Within 8 months from the start date of the agreement (scheduled for April 2024 to December 2024)

• Selection Scale: Approximately 930 candidates (around 770 for the General Category, and around 160 for the Specialized Category) *The selection quota per hosting institution may vary depending on application volume and screening results.

• Application Eligibility

  • Applicants must not have business registration or corporate establishment registration under their name as of the announcement date (January 30, 2024).

  • However, representatives of startup businesses (sole proprietorships) operating solely in the real estate leasing industry may apply, provided they meet the following condition: Applicants must not have closed a sole proprietorship or corporate business (dissolution and liquidation) within one month prior to the announcement date (January 1, 2024 – January 30, 2024).

• Application Categories

  

• Classified into the General Category and the Specialized Category.

  
  

  
  

  
  

  
  

Support Content

• Provides up to 100 million KRW (average of 50 million KRW) in commercialization funds for prototype production, intellectual property acquisition, and business model (BM) improvement.

  • Commercialization funds (government support grants) are allocated based on evaluation results.

  ** Commercialization funding (government support grants) is disbursed within the limits of the budget requested by the applicant.

• Total Project Cost = 100% Government Grant (no matching funds required for the applicant)

• Startup Programs: Specialized programs designed by hosting institutions to assist aspiring entrepreneurs (including BM optimization, MVP development, mentoring, startup education, and networking).

• Application Submission Period: January 30, 2024 (Tue) to February 21, 2024 (Wed) until 16:00 KST

• Required Documents

  • Program Application Form

  • Business Plan

  • Supporting Documentation

• Evaluation Process

  

Today, we reviewed the announcement for the 2024 Preliminary Entrepreneur Package.

Although the terms are similar to previous years, we highly recommend carefully reviewing the official announcement details before submitting your application to ensure accurate preparation.

We will return with more informative content in our next post.

Thank you.

2024 Preliminary Entrepreneur Package Announcement: https://www.k-startup.go.kr/web/contents/bizpbanc-ongoing.do?schM=view&pbancSn=167495&page=1&schStr=regist&pbancEndYn=N