CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

On January 31, Chungju-si, Chungbuk-do announced that it will provide startup funds of KRW 100 million to four bio-startups run by young people.

It is part of the 'Youth Bio Startup Support Project', aimed at attracting and fostering bio startups run by the youth, which has growth potential and excellent items.

Those eligible are young people aged 19 to 39 who are preparing start-ups in the bio-health fields or have run it for less than seven years.

Those which have business site in areas other than Chungju need to meet the condition of relocating headquarters to Chungju in three months after being selected.

The funds could be used for the rent, cost for commercialization, promotion expense, and various certificates fees, etc.

The city will receive applications from 1-21 February, and select the recipients through examination such as presentation of business plan, among others.

Chungju-si has selected and supported 3-5 start-ups in various bio fields including pharmaceuticals, medical devices, cosmetics, and digital healthcare since 2020.

A city official said, "We will prepare various support measures to build Chungju into a city favorable to the young entrepreneur with excellent bio ideas and technologies."

jusang@yna.co.kr

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Source: Yonhap News (January 31, 2024)