Startups outside of Seoul often get overlooked, and even more so in regional areas outside of major cities. That’s why it’s always encouraging to see intiatives like the Global Expansion Program (GEP) offered by Chungnam’s Center for Creative Economy and Innovation and Hanhwa DreamPlus.
The new program has been launched to help give a boost to startups that are aiming to go global by directly taking them to overseas markets. Selected companies will be given support to develop their business in China, Japan and Vietmam over a period of three months.
During the program, each startup will have the chance to team up with DreamPlus and visit the three countries several times, with up to 1 million won financial support provided for accommodation and food on each trip. Locally based office space, partners, and the opportunity to network are also offered.
ICT and IoT startups with Korean wave items, or cosmetics and beauty products will have a higher possibility of being selected, and companies with staff that can speak the local language are also preferred.
Five teams in total will be chosen for GEP, and selected based on several factors including business model, product and potential for growth. Startups that don’t qualify, but still have great items will also be connected to other global programs.
Applications for the GEP are being taken until March 22 and can be made via the CCEI website.
