From now on, anyone with creative ideas, technology and knowledge in the field of cultural content will be able to launch start-up companies with relative ease.
On January 24, the SMBA (Administrator Hong Suk-woo) decided to invest 3 billion won in expanding its support for the commercialization of existing technology-based ideas to knowledge service fields, in an effort to activate start-ups by young people and create new jobs.
Following its announcement of pilot projects for cultural content in March 2009, the SMBA has selected nine business types in cultural content and IT, including cartoons, games, characters, animations, film, broadcasting, e-Learning and information services.
The SMBA intends to select about 100 outstanding ideas, which is three times the number of pilot projects launched last year, and increase the scope of support and budgets on a step-by-step basis. To nurture outstanding ideas in the area of cultural contents including crafts, the SMBA invested 2.19 billion won in 63 projects last year.
The SMBA received an overwhelming 482 applications from which 37 were selected, reflecting great public interest in knowledge-based start-ups.
The number of successful businesses like Genie Beanie is on the rise. Genie Beanie is the first mobile application to offer users an SIM file service without their having to access the web portals of telecommunication companies. Also, it is a storytelling application capable of creating a world of imagination as seen through children's eyes.
The SMBA expects its investment in the commercialization of ideas to encourage more people to launch knowledge-based start-ups and create new jobs.
The project to support the commercialization of ideas in the knowledge service fields assists entrepreneurs with idea development, content production (product prototype), copyrights and marketing. An SMBA official said, "As this project is being introduced for the first time this year since the implementation of pilot projects in 2009, we plan to actively help commercially successful enterprises to secure sales channels in linkage with App Store, a mobile-based online marketplace that has been growing rapidly of late".
App Store, an abbreviation of Application Store, is a mobile-based online marketplace where users can buy and sell content.
He added, "In addition to supporting commercialization through such methods as providing publicity through media or opening forums to facilitate investment and sales, we will pursue policies to become substantially helpful to start-ups with excellent ideas by complementing existing policies".
To apply, download an application form from the Idea Biz Bank (
Open the link) or a supervisory organization (Korea Creative Content Agency:
Open the link Small & Medium Business Information System:
Open the link) and submit it by e-mail between February 1 and March 31.
Those with creative ideas for the knowledge service industry or founders of start-ups whose company was established after January 1, 2007, are eligible to apply.
Successful applicants will be offered up to 40 million won, covering at most 70% of total expenses, depending on the type of business.
For further details, contact the SMBA (042-481-4523/2524) or the Korea Creative Content Agency (02-3153-3002), Small & Medium Business Information System (042-363-7741).
Source: Newsis
