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Hankyung.com's introduces: Foreigner's Innovative Ideas Turns into Startup Companies in Korea

2020-09-08 16:49 1064
  • Startup business model Audition "A Big Think" Hosted by Seoul Business Agency
  • Seoul Metropolitan Government Discovers and Fosters Foreign Technology-based Startup Wannabes
  • Creating a Global startup environment for Foreigners based in Seoul

SEOUL, South Korea, Sept. 8, 2020 /PRNewswire/ -- A Big Think, a startup business model audition for foreigners will be held by Seoul Business Agency (SBA, CEO: Jang Yeong-Seung), a business support institution for small and medium-sized enterprises (SMEs), run by Seoul metropolitan government, and dedicates to the promotion and development of competitiveness by diversifying the investment and start-up environment.

SBA's Invest Seoul Center has hosted "A Big Think", the business model audition for foreigners seven times since 2014; it provides to the winners not only VISA points but various support such as free office, education, and consulting to help to actually establish the companies. Also, supports other applicants to realize successful startups in the future to foster foreign technology-based start-ups.

Following announcement covered by Hankyung.com, "A Big Think" is a very attractive opportunity for foreigners since the winners can receive benefits from various start-up support programs run by Seoul Metropolitan Government as well as support for obtaining the tech-based startup VISA(D-8-4). Winners of "A Big Think" can start a business without FDI(Foreign Direct Investment).

Because the Tech-based startup VISA prerequisite point will be given to the winner of "A Big Think", therefore the winners can start businesses without the 100 million won of the required investment.

The requirements for the tech-based startup VISA(D-8-4) are as follows: (a) 80 or more VISA points(including the prerequisite points); (b) Bachelor's degree (Associate's degree from Korea); and (c) establishment of a new corporation as a CEO. The startup VISA prerequisite points(necessary to get the tech-based start VISA) are awarded to the winners of "A Big Think".

There have been 163 applicants from 17 countries and 25 teams have been awarded.

SBA(Seoul Business Agency) is intended to provide a chance for foreigners with excellent technologies but have difficulties in commercializing their businesses through "A Big Think", and thus contribute to creating high-quality jobs and Seoul's economy by supporting domestic start-ups by foreigners.

The closing date is September 25(Fri.) and the applicants passing the preliminary round (scheduled on October 7) will have a presentation of their business models at the final round on November 4(Wed.). The application can be accepted by September 25(Fri.) via email at sgcbiz@sba.seoul.kr.

For more information, please check the Invest Seoul Center's website at https://investseoul.center or call at 02-6361-4126.

[Photo at 2019 A Big Think, provided by SBA]
Winner : http://pr.hankyung.com/wp-content/uploads/2020/09/SBA01.jpg
Participant group photo : http://pr.hankyung.com/wp-content/uploads/2020/09/SBA02.jpg

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Source: Hankyung.com
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