Ministry of SMEs and Startups Replaces Startup Support Project Evaluation with 'Non-Face-to-Face' Method... Flexible Operation Due to COVID-19

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 1st that it will operate startup support projects flexibly in response to the spread of the novel coronavirus infection (COVID-19).

This flexible operation was prepared to enhance convenience for entrepreneurs and resolve difficulties. It will be promoted by extending the recruitment period for startup support projects and replacing face-to-face and presentation evaluations with online (non-face-to-face) methods.

The recruitment period will be extended for the Pre-Startup Package (general field), Startup Leap Package (commercialization support and growth promotion program), In-house Venture Development Program (spin-off companies), Local Creator Activation Support Project, which are currently recruiting entrepreneurs, as well as the Youth Biz Cool, which is in additional recruitment. This measure aims to alleviate difficulties faced by startup companies in preparing project plans due to telecommuting, self-quarantine, and other reasons amid the spread of COVID-19.

The Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development plan to adjust the selection and evaluation schedules for each project and change the evaluation methods. The Pre-Startup, Early Startup, and Startup Leap Packages will postpone evaluation schedules and replace the evaluation method from offline (face-to-face) to online (non-face-to-face) depending on the COVID-19 spread situation.

Additionally, the Re-Challenge Success Package, Public-Private Joint Startup Discovery and Development (Pre-TIPS), Local Creator Activation Support, Selection of Resident Companies in Pangyo Startup Zone, and Makerspace Construction Projects will operate offline evaluation processes through online methods using videos and phone calls. Other projects preparing recruitment for entrepreneurs or host institutions will also postpone schedules or improve evaluation methods to prevent the spread of COVID-19.

Offline briefing sessions for each project, which had been canceled due to the spread of COVID-19, will be conducted online via YouTube and other platforms to help entrepreneurs smoothly obtain information. Furthermore, support projects requiring mandatory offline education, such as the Pre-Startup Package, will fully replace educational programs with online formats like 'Startup Edu.'

Hwang Young-ho, Director of the Technology Startup Division at the Ministry of SMEs and Startups, said, "Due to the spread of COVID-19, the integrated briefing sessions for startup support projects, which were previously held offline, were switched to online in February this year. We are devising various measures to resolve inconveniences faced by entrepreneurs," adding, "We will do our best to ensure that the enthusiasm for startups does not fade and that government support proceeds smoothly."

This content was produced with the assistance of AI translation services.