The Seoul Global Startup Center (hereinafter referred to as “Seoul GSC”) was founded in August 2016 as the first foreign startup support center in Korea. As of today, 35 multinational startups entered the Center and are building up market competitiveness.
The Seoul Metropolitan Government (SMG) will recruit 30 foreign startups to move into the Seoul GSC (Yongsan-gu, Seoul, a total area of 2,828㎡), an organization that has been assisting self-sustaining foreign startups, by April 14, 2017 (Friday). Selected startups are allowed to stay in the center for one year and may extend the period by another one year if they pass the evaluation process.
The SMG funds up to 20 million won to an in-house startup company and also stations an in-house mentor who provides consultation on areas of difficulty regarding technology, marketing, incorporation, patents, and others. The Seoul GSC supports foreign startups so that they can grow into enterprises equipped with a competitive edge. Starting this year, the Center will offer various business incubating services in Chinese in order to encourage the participation of Chinese entrepreneurs accounting for 70% of foreigners living in Seoul.
The Seoul GSC operates the Enternship (a combination of Entrepreneur and Intern) Program twice a year so that foreign students can experience business startups during their vacations. In 2017, the Center will also support business startups of entrepreneurial clubs operated by foreign students.
Any foreigner who wants to start a business or promising foreign enterprises that have been founded within the last three years can submit an application to join the center. Successful applicants will be selected through a document screening and interview (presentation) process that focuses on the founder’s competency, adequacy of business plans, technology, and marketability.
The Seoul GSC will receive applications until April 14 (Friday) and all required documents can be downloaded at the Seoul Global Startup Center website (http://seoulgsc.com). Contact the Seoul GSC (02-718-1170) for further information. If you would like more details, a presentation will be held at the Co-working Café on the third floor of the Seoul GSC Building at 2pm on Monday April 3rd.