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According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of SMEs and Startups (MSS) announced that it will launch a new program this year, go-global voucher, providing support for startups less than 7 years old to go global.

MSS and the Korea International Trade Association (KITA) are to support 130 companies in total, up to KRW 30 million for each company, after selecting 80 companies in the first round by March 22, followed by 50 more in the second round in June.

This program will be run for less than 1 year.

The enterprises eligible are SMEs who are less than 7 years old and: have been awarded in startup competitions; received venture capital investment; or own patent in innovative fields such as artificial intelligence (AI).

This go-global voucher for startups will provide various support, including participation in foreign accelerating programs, registration for international crowdfunding, and matching with foreign investors.

MSS expects this voucher program will stimulate technology-based startups go global by supporting the utilization of shared offices overseas and mass production of export products.

Director General for Global Market Policy said, "It is necessary to establish a new strategy for global market entry appropriate for startups in the era of the fourth industrial revolution," adding that "we will focus on policy support to help startups go beyond limited domestic market and grow into global unicorn companies".

More details of this announcement can be found on the website of export voucher(www.exportvoucher.com), website of MSS (www.mss.go.kr), and KITA (www.kita.net)


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Source Text

Source: Yonhap News (March 7, 2019)

** This article was translated from Korean.