More than 90,000 applicants have applied for the second round of the 'Everyone's Startup' initiative, which aims to provide entrepreneurial opportunities to the public, showing a significant increase in interest compared to the first round. With a rise in participation from youth and those in non-metropolitan areas, the program is being watched closely to see if it can effectively foster a 'startup ecosystem'.
According to the Ministry of SMEs and Startups on September 18, a total of 92,838 applications were received from August 20 to September 17 for the second round of the Everyone's Startup project, including 80,764 in the general and technology sectors and 12,074 in the local sector.
This figure represents an increase of about 30,000 from the first round, which had 62,944 applicants over 51 days.
Notably, the proportion of applicants from non-metropolitan areas rose to 63.3%, up from 53.4% in the first round, indicating a growing entrepreneurial spirit across various regions.
The ministry has established regional startup communities to facilitate ongoing exchanges among all members of the startup ecosystem, including participants, experienced entrepreneurs, and investors.
The program operates 'Startup Clubs' in four regions, where experienced entrepreneurs share insights and practical know-how with aspiring founders, and supports autonomous startup gatherings through 'Clubs We Create Together'.
To enhance operational stability, regional hub organizations have been designated to manage and supervise local support institutions, establishing a continuous communication system between the Startup Promotion Agency and these hubs.
The number of support institutions has increased from 119 in the first round to over 170 in the second round. New participants include major and mid-sized companies like Hana Bank and Shinhan Square Bridge Daegu, as well as public institutions such as the Gyeonggi Content Agency and Korea Water Resources Corporation.
Various support institutions from across the country, including Gyeonggi Daejeon Technopark, Gangwon Design Promotion Agency, Chuncheon Middle-aged Technology Startup Incubation Center, Daejeon Job Economy Promotion Agency, Jeonbuk Venture Industry Development Council, Jeonju Information Culture Industry Promotion Agency, Daegu-Gyeongbuk Advanced Medical Industry Promotion Foundation, and Gyeongbuk Technopark, are also notable participants.
The ministry explained that the expansion of support to 10,000 participants and the increase in the number of support institutions were aimed at ensuring that diverse ideas across various fields can be transformed into actual businesses.
The number of young entrepreneurs has also increased, with those in their teens (15.4%) and twenties (36.4%) making up more than half of all applicants. The proportion of applicants aged 39 and under reached 71.8%, up from 68.0% in the first round.
With the position of Minister of SMEs and Startups currently vacant, First Vice Minister Noh Yong-seok and Second Vice Minister Lee Byeong-gwon held a 'Second Round of Everyone's Startup Campus Tour' at Chungnam National University in Daejeon and Inha University in Incheon, engaging with young entrepreneurs and university students.
During a talk concert, participants shared their experiences of transforming vague ideas into concrete business plans and the challenges they faced while balancing academics and entrepreneurship.
The effectiveness of Everyone's Startup in nurturing a 'startup ecosystem' remains to be seen. This year, a total of 263.1 billion won has been allocated to the program, combining the main budget of 62.8 billion won and an additional budget of 200.3 billion won. The government budget proposal for next year includes an increase of 178 billion won (67.7%) to 441.1 billion won compared to this year.
Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, stated, "The entrepreneurial enthusiasm has spread nationwide across all generations, with over 90,000 citizens participating in this short recruitment period, surpassing the first round. We will continue to strengthen support to ensure that these challenges lead to actual startups and growth, fostering the next generation of innovative entrepreneurs."
According to the Ministry of SMEs and Startups on September 18, a total of 92,838 applications were received from August 20 to September 17 for the second round of the Everyone's Startup project, including 80,764 in the general and technology sectors and 12,074 in the local sector.
This figure represents an increase of about 30,000 from the first round, which had 62,944 applicants over 51 days.
Notably, the proportion of applicants from non-metropolitan areas rose to 63.3%, up from 53.4% in the first round, indicating a growing entrepreneurial spirit across various regions.
The ministry has established regional startup communities to facilitate ongoing exchanges among all members of the startup ecosystem, including participants, experienced entrepreneurs, and investors.
The program operates 'Startup Clubs' in four regions, where experienced entrepreneurs share insights and practical know-how with aspiring founders, and supports autonomous startup gatherings through 'Clubs We Create Together'.
To enhance operational stability, regional hub organizations have been designated to manage and supervise local support institutions, establishing a continuous communication system between the Startup Promotion Agency and these hubs.
The number of support institutions has increased from 119 in the first round to over 170 in the second round. New participants include major and mid-sized companies like Hana Bank and Shinhan Square Bridge Daegu, as well as public institutions such as the Gyeonggi Content Agency and Korea Water Resources Corporation.
Various support institutions from across the country, including Gyeonggi Daejeon Technopark, Gangwon Design Promotion Agency, Chuncheon Middle-aged Technology Startup Incubation Center, Daejeon Job Economy Promotion Agency, Jeonbuk Venture Industry Development Council, Jeonju Information Culture Industry Promotion Agency, Daegu-Gyeongbuk Advanced Medical Industry Promotion Foundation, and Gyeongbuk Technopark, are also notable participants.
The ministry explained that the expansion of support to 10,000 participants and the increase in the number of support institutions were aimed at ensuring that diverse ideas across various fields can be transformed into actual businesses.
The number of young entrepreneurs has also increased, with those in their teens (15.4%) and twenties (36.4%) making up more than half of all applicants. The proportion of applicants aged 39 and under reached 71.8%, up from 68.0% in the first round.
With the position of Minister of SMEs and Startups currently vacant, First Vice Minister Noh Yong-seok and Second Vice Minister Lee Byeong-gwon held a 'Second Round of Everyone's Startup Campus Tour' at Chungnam National University in Daejeon and Inha University in Incheon, engaging with young entrepreneurs and university students.
During a talk concert, participants shared their experiences of transforming vague ideas into concrete business plans and the challenges they faced while balancing academics and entrepreneurship.
The effectiveness of Everyone's Startup in nurturing a 'startup ecosystem' remains to be seen. This year, a total of 263.1 billion won has been allocated to the program, combining the main budget of 62.8 billion won and an additional budget of 200.3 billion won. The government budget proposal for next year includes an increase of 178 billion won (67.7%) to 441.1 billion won compared to this year.
Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, stated, "The entrepreneurial enthusiasm has spread nationwide across all generations, with over 90,000 citizens participating in this short recruitment period, surpassing the first round. We will continue to strengthen support to ensure that these challenges lead to actual startups and growth, fostering the next generation of innovative entrepreneurs."
* This article has been translated by AI.
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