Jungjinkong Partners with Handong University to Foster Uganda Startup Ecosystem

Agreement Signed on the 10th to Foster Startup Talent and Build Startup Ecosystem in Uganda

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 10th that it has signed an agreement with Handong Global University (President Choi Do-sung, hereinafter referred to as Handong University) to promote a convergence international development cooperation (ODA) project and agreed to join forces to create and strengthen the startup ecosystem in Uganda.

Both parties agreed to cooperate to improve the success rate of youth startups in Uganda by ▲linking startup training program curricula ▲sharing local Ugandan institution networks and youth talent pools ▲exchanging information including jointly hosting seminars and forums. This business agreement is the first step to successfully carry out the ODA project in Uganda by combining the capabilities of both organizations.

Based on the startup support know-how accumulated through operating the Youth Startup Academy, SBC plans to transfer the Youth Startup Academy model to Kampala, Uganda, through international development cooperation over the next three years starting this year. Through this, it aims to contribute to Africa's economic development and also seek opportunities for domestic companies to enter new markets.

Handong University has been promoting the UNESCO UNITWIN international development cooperation project since 2010. Among the detailed projects, it has newly reorganized the startup capacity-building program for Ugandan universities since 2020, providing entrepreneurship programs and startup education to Uganda's Kumi University.

With the establishment of this cooperation system, Ugandan youth will be able to receive linked support to enter the Youth Startup Academy established and operated by SBC after completing entrepreneurship courses such as those offered by Handong University. In addition, both organizations expect that by linking ODA projects, they can share the know-how and knowledge accumulated locally in Uganda, reducing the time and exploration costs associated with project implementation.

Chairman Kim Hak-do said, "Since its opening in 2011, the Youth Startup Academy has nurtured 5,842 young entrepreneurs and two unicorn companies, representing Korea's startup ecosystem policy support projects," adding, "SBC will work with Handong University to transfer Korea's startup talent development and support know-how to Uganda to contribute to the creation of a startup ecosystem and economic development."

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