Asan Nanum Foundation announced on the 24th that it will be recruiting participating teams for the 2025 inclusive startup support program 'Asan Sanghoe' until the 24th of next month.
'Asan Sanghoe' is a compound word of 'Asan (峨山)', the pen name of Hyundai founder Chung Ju-young, and 'Kyungil Sanghoe', the first company he founded in his lifetime. It is a program that supports entrepreneurs from various backgrounds to become independent and grow through entrepreneurship. This program utilizes human and material resources such as commercialization funds, entrepreneurship education, and investment linkage to help entrepreneurs become independent and grow, and aims to expand social inclusion and diversity in the entrepreneurship ecosystem. In addition, starting this year, it will be linked with the 'Diversity Track' of the Chung Ju-young Entrepreneurship Competition to provide systematic incubation to participating teams.
In 2025, the selection scope will be expanded to include not only existing defectors but also migrant background residents and foreigners. Qualification requirements are a prospective startup team or an early startup team established within 7 years, and the representative must be a defector, migrant background resident, or foreigner. In the case of foreigners, they must have a visa that allows them to legally start a business in Korea.
Teams participating in 'Asan Sanghoe' will be provided with various business support benefits such as initial business capital of 7 million won, special lectures on entrepreneurship, 1:1 leadership coaching, pitching consulting, and investment linkage. In addition, regular community programs and workshops are held to form networks among entrepreneurs.
Some of the participating teams will have the opportunity to advance to the Demo Day of the Chung Ju-young Startup Competition 'Diversity Track'. They will have the opportunity to present their business at the integrated Demo Day in the second half of the year. A total of five teams will participate in the Demo Day, and a total prize money of 59 million won will be awarded.
In addition, up to 50 million won in support funds will be provided in the form of matching grants to startup teams that have attracted investment after completing Asan Sanghoe. This support is a system designed to help startup teams become self-reliant and grow, and is provided in a comprehensive manner considering the amount of investment attracted and the value of the company.
Participating teams can also utilize the various startup support programs of 'MARU' operated by Asan Nanum Foundation. Through the 'MARU Benefit' program, they can receive corporate partnership benefits worth up to 620 million won, and use services such as development, recruitment, promotion, and welfare necessary for startups for free or at a discounted price.
Applications for participation in 'Asan Sanghoe' can be submitted until 3:00 PM on March 24th on the official website of the 2025 Chung Ju-young Startup Competition. The final list of selected teams will be announced on April 10th after document and interview screening. An online webinar for application for participation will be held on March 14th.
Park Seong-jong, head of the Social Innovation Team at the Asan Nanum Foundation, said, “Asan Sanghoe will support various entrepreneurs with the will to start a business by providing them with opportunities for challenge and growth, and through this, help them grow into entities that create a better society.” He added, “We hope that starting this year, entrepreneurs from various backgrounds, including North Korean defectors, immigrants, and foreigners, will be able to realize their entrepreneurial spirit with Asan Sanghoe.”
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