Seoul Sanggeon Innovation Academy Opens on the 5th... Producing Alley Brand Innovative Entrepreneurs

Opened in Seongsu-dong, One-Stop Support for Education + Practice + Follow-up Management... Seoul's First One-Stop Incubating for Small Business Owners

[Asia Economy Reporter Lim Cheol-young] The Seoul Commercial District Innovation Academy, which provides practical and intensive training opportunities for prospective entrepreneurs in the dining and dessert industries, will open on the 5th.

As consumer trends have shifted from large commercial districts to neighborhood commercial areas after COVID-19, the goal is to support well-prepared startups through practical, hands-on education and field experience that can be immediately applied to business operations. The plan is to nurture small business owners who will create alleyway brands with innovative startup ideas, not just common neighborhood stores, and serve as a catalyst for the revival of local commercial districts.

The newly opened Seoul Commercial District Innovation Academy is located in Seongsu-dong, Seongdong-gu, and is equipped with classrooms, kitchens for practical training, barista rooms, bakery rooms, and a studio for photographing various products. It can be considered the first incubating space to provide one-stop support for alleyway startups.

While there have been many “point-level” supports such as funding, startup education, and consulting provided individually to prospective entrepreneurs or small business owners preparing for re-startups, this is the first time that “line-level” support is being offered, covering the entire startup process from theory to practice, internships, funding, consulting, and post-startup follow-up management in a one-stop manner. In fact, the education cost per trainee for five months of lectures and internships reaches 12 million KRW.

The academy’s lectures will be held for five months starting from the 5th, targeting 20 prospective entrepreneurs in the dining, coffee, and dessert sectors. The core objective is to cultivate competitive prospective entrepreneurs who coexist with local commercial districts through intensive and dense education with innovative startup ideas and content.

Looking at the academy’s curriculum, theoretical education is systematically conducted with a practical focus, covering commercial district analysis and business plan development for successful startups, lease contracts, trademark registration methods, use of delivery apps, inventory management, promotional material production, and more.

Practical training takes place in a separate practice space on the 5th floor of the academy. This area includes a “food cooking room” equipped with gas burners and ovens, a “bakery/dessert practice room” with mixers, fermenters, and ovens, and a “coffee practice room” with grinders and coffee machines. These specialized spaces provide the necessary equipment for each category, allowing for individual practice and hands-on training.

After completing theoretical and practical training, trainees are also offered a two-week internship opportunity at excellent businesses designated by the academy. It is expected that they will receive various support needed for actual business operations, including business know-how and management philosophy.

Additionally, startup funding loans (up to 50 million KRW at low interest rates around 1% per annum), one-on-one startup consulting, policy fund linkage, and participation benefits in city comprehensive support projects are provided. The academy also plans to support the operation of a graduate network to find joint solutions for various situations that may arise after actual startup.

In its first year of operation, the academy will focus on training prospective entrepreneurs in the dining and dessert sectors, and next year, it plans to discover additional industries that can revitalize local commercial districts and recruit trainees twice a year, in the first and second halves. Seo Seong-man, Director of Labor and Livelihood Policy at Seoul City, said, “The main goal of the Commercial District Innovation Academy is to help prospective entrepreneurs succeed in their startups and increase survival rates after startup through thorough education and preparation.” He added, “We will continuously discover innovative industries that can revive alleyway commercial districts, provide systematic education, and strive to create a virtuous cycle startup ecosystem.”

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