Pre-Startup Package: Who Qualifies and What You Get
Learn how individuals with innovative ideas can access significant funding to launch a new business in South Korea.
This scheme provides financial support to individuals who have an innovative business idea but have not yet officially registered a company.
Who it's for
This program is specifically designed for individuals who possess an innovative idea for a new business venture. To qualify, you must not currently have an existing business registration. It is intended to support the very earliest stages of entrepreneurship, helping people move from a conceptual idea to a functioning enterprise.
What you get
If your application is successful, you can receive funding of up to ₩100,000,000. This capital is intended to assist with various aspects of business development, providing the necessary runway to turn your innovative concept into a real-world business operation.
What it costs you
There is no direct monetary fee to apply for this package, but it requires a significant investment of your time and effort. You are required to develop and submit a comprehensive business plan along with a pitch deck to demonstrate the viability of your idea and your ability to execute it.
The catch to know
The most important thing to understand is that these funds are strictly audited by the government. Because the money is provided to support specific business development goals, you must keep detailed receipts and documentation for all expenses. Failing to maintain rigorous record-keeping for every cent spent could lead to issues during the audit process.
How to apply
- Develop a comprehensive business plan that details your innovative idea.
- Create a professional pitch deck to present your business model.
- Visit the official government startup portal to find the application section.
- Submit your documents through the online system for review.