Establishment of 'New Business Startup Academy' in Ulsan, Jeonnam, and Chungbuk Regions

Source= New Business Startup School website

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 3rd that it will additionally establish New Business Startup Academy branches this year in three regions: Ulsan, Jeonnam, and Chungbuk, in collaboration with the Small Enterprise and Market Service.

The New Business Startup Academy supports promising prospective small business owners through step-by-step entrepreneurship assistance. It has been operating based in nine regions nationwide (Seoul, Busan, Daegu, Gwangju, Daejeon, Gyeonggi, Incheon, Jeonbuk, Gyeongnam). It provides startup education in new business fields, operates experiential stores for on-site practice, and supports practical entrepreneurship thereafter.

Especially this year, to strengthen small business startup support through cooperation between the government and local regions, the priority installation regions were selected by giving significant consideration to regional collaboration and utilization plans based on the New Business Startup Academy, as well as the willingness of local governments to support.

The Ulsan city plans to link the 'Small Business Happiness Dream Center,' which operates to support small business startups locally, with the New Business Startup Academy program to significantly enhance and support consulting and startup funds for prospective small business owners in the region who wish to start a business.

Jeonnam Province and Suncheon City will provide idle local spaces to build the academy infrastructure. They plan to fully support the entire startup process, including advanced startup education, mentoring, funding, and store entry support for academy entrants and graduates, in cooperation with local organizations such as the Jeonnam Credit Guarantee Foundation, Jeonnam Creative Economy Innovation Center, and Jeonnam Small Business Support Center.

Chungbuk Province and Cheongju City plan to utilize the New Business Startup Academy as a startup support platform for young small business owners in Chungbuk by discovering abundant young talent in the Cheongju area as prospective small business owners and prioritizing support for small business development funds, in collaboration with startup incubation centers concentrated in local universities.

Kwon Daesu, Director of Small Business Policy at the Ministry of SMEs and Startups, said, "We plan to sequentially establish New Business Startup Academy branches in 17 regions nationwide by 2022," adding, "We will gather local small business startup resources and capabilities centered on the academy and strengthen startup support in new industry fields based on digital and online platforms to revitalize the disadvantaged local small business startup ecosystem."

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