Startup-Centered Universities Selected: Hanyang University, Hoseo University, Jeonbuk National University, Kangwon National University, Daegu University, and Pusan National University

Operation of Startup Business Commercialization Support and Entrepreneurship Promotion Programs for the Next 5 Years

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) announced on the 14th that six universities, including Hanyang University, were selected as lead institutions for the 2022 Startup-Centered University program.

The Ministry promoted the selection of startup-centered universities to spread the entrepreneurial spirit within universities outward, improve the youth startup ecosystem which is concentrated in the early stages of startups, and foster universities as hubs for regional youth innovative startups and nurseries for unicorn companies.

A total of 27 universities applied following the recruitment announcement in December last year. In January this year, a document evaluation was conducted, selecting 17 universities within three times the number per region as candidates for the presentation evaluation. For these 17 universities, on-site inspections were conducted from January 24 to 27, followed by presentation evaluations on February 9.

The evaluation was conducted by an evaluation committee composed of external experts from the private sector, related organizations, and academia. As a result, Hanyang University in the Seoul metropolitan area, Hoseo University in the Chungcheong region, Jeonbuk National University in the Honam region, Kangwon National University in the Gangwon region, Daegu University in the Daegu-Gyeongbuk region, and Pusan National University in the Southeast region achieved the highest scores in their respective regions and were selected as startup-centered universities.

The selection of lead institutions for startup-centered universities will be finalized by February 21 after any objections are reviewed. Once confirmed, after signing agreements with the lead institutions, support for commercialization of startups at various growth stages will be provided through separate announcements. Autonomous programs for spreading entrepreneurship and discovering and supporting startup companies will be operated by each university.

No Yong-seok, Director of Startup Policy Promotion at the Ministry, said, "We hope that the universities selected as startup-centered universities will serve as hubs for startup support not only for their own universities but also for youth and regional startup companies within their regions." He added, "The Ministry will spare no effort to support the creation of an environment where local youth can actively start businesses in cooperation with the six universities selected this time."

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