Recruiting 880 Trainees for 'Practical Startup' Training

Korea Startup Promotion Agency Supports Education and Mentoring for Prospective Entrepreneurs' Success

The Korea Institute of Startup & Entrepreneurship Development (President Kim Kwang-hyun) announced on the 3rd that it is recruiting the 3rd batch of practical startup education trainees, targeting prospective entrepreneurs and existing entrepreneurs planning to start businesses in different industries, to support business model establishment, minimum viable product creation, and market validation.

The practical startup education program supports step-by-step training and mentoring to increase the success rate of prospective entrepreneurs. It was newly launched last year and supported 2,000 people through the 1st and 2nd batches this year. The 3rd batch will recruit 880 trainees and will be operated for about four months starting in August.

Among the step-by-step training, the idea development course supports preliminary learning for establishing a business model by strengthening basic startup capabilities and concretizing ideas. This course is conducted through a combination of online and offline education. The business model establishment course identifies problems in ideas within a short time and seeks solutions, allowing trainees to concretize their business models through mentoring and practical training. The final stage, 'Lean Startup,' supports the creation of minimum viable products, customer and market validation, etc., with funding up to 7 million KRW, helping to revise and supplement business models and establish systematic business plans. In particular, this stage provides intensive mentoring to closely support entrepreneurs.

The practical startup education program recruited 3,060 trainees last year and operates courses at 11 institutions nationwide, offering trendy startup education methodologies such as design thinking, business models, and lean startup. Kim Kwang-hyun, President of the Korea Institute of Startup & Entrepreneurship Development, said, "After recruiting and operating the program last year, the response from the field was very positive. Unlike traditional startup education, this program focuses on concretizing ideas and establishing business models, emphasizing whether the derived items are products that actual customers want, which seems to have drawn a good response from trainees."

The 3rd batch of the 2020 practical startup education program will be recruited until the 21st, and detailed information about the application can be found on the Ministry of SMEs and Startups or K-Startup websites.

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