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Youth Food StartUp company, Research fund Supporting

Youth Food StartUp Company, Retain Research Funding!



The Ministry of Agriculture, Food and Rural Affairs announced it will provide research and development(R&D) funds to food startups.


The target of R&D funding from the Ministry of Agriculture and Food will be companies with more than one year and less than five years of foundation on the basis of August 1st this year. It also said that it is applicable toward a small company in the food sector whose representative should be youth, under 40 years old, and the research period for each task is less than a year, and ten companies are supported by the government grants within 50 million won.


The existing R&D plan forms were simplified as much as possible with consideration of the research support for start-up companies. In order to help difficulties of selected companies in their research, the National Food Clusters and the Food, Agriculture, Food, Technology Planning and Evaluation Institute will prosecute contact-type management such as briefing, field mentoring, research advice and regular monitoring.


In addition, it plans to help commercialize research results in conjunction with linking experts, prototyping, business consultancy, and buyer matching of the National Food Clusters.

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