Suncheon City Hosts 'Small Business New Venture Startup Academy'

5 Years of Graduating Small Business Entrepreneurs, 6.5 Billion KRW in National Funding Support

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do (Mayor Heo Seok) announced on the 6th that it has been selected as a new installation site for the Ministry of SMEs and Startups' public project, the 'Small Business New Venture Startup Academy.'

According to Suncheon City, as the Ministry of SMEs and Startups called for new academies this year, they established a cooperative system with Jeollanam-do and the Suncheon Small Business One-Stop Support Center, formulated a business plan, and focused on explaining the necessity of installing the academy in the Suncheon area, successfully attracting the project.

The 'Small Business New Venture Startup Academy' is a platform that supports promising prospective small business owners' startups. It discovers prospective small business owners who wish to start a business locally and supports their startup in stages?from entrepreneurship education in new business fields to hands-on practice at the site, operating experience stores, and eventually actual startup.

The Ministry of SMEs and Startups plans to invest 1.5 billion KRW of national funds this year to build spaces where online and offline businesses can be executed, select 20 students for the program, and operate it. Over the next five years, about 1 billion KRW of national funds will be spent annually to produce 40 smart small business graduates per year, with a total budget of 6.5 billion KRW required for the project.

In particular, selected prospective small business students will receive one month of basic and advanced education, four months of store management experience and one-on-one mentoring, and upon completion, up to 20 million KRW (with 50% self-payment) in commercialization funds will be supported when starting a business.

Suncheon City stated, "In the situation where non-face-to-face online marketing is expanding due to the spread of COVID-19, the attraction of this academy is expected to provide new startup opportunities for small business owners," and added, "We will actively support creative items based on online platforms to connect to startups."

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