According to Yonhap News,
(SEOUL=Yonhap News) On July 1, the Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced that it will support R&D funds to help food startups deal with new product development and difficulties on production site.
MAFRA is to select 15 projects to provide up to KRW 60 million for no longer than 1 year.
MAFRA plans to help commercialization of selected enterprises' research outcomes by supporting coordinators, and business advice through the National Food Cluster.
The startups eligible for application are small enterprise of 1-5 years old as of the announcement date (July 1, 2019) with its CEO younger than 50 years old.
More details can be found on the website of MAFRA (www.mafra.go.kr) and the Korea Institute of Planning and Evaluation for Technology in Food, Agriculture, and Forestry (www.ipet.re.kr), K-Startup (www.k-startup.go.kr), Creative Economy Innovation Center, and Business Incubation Center of universities.
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Source: Yonhap News (July 1, 2019)
** This article was translated from Korean.