Looking for Institutions Hosting Practical Startup Education

Recruitment of 6 New Host Organizations for Innovation Startup School

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young) announced on the 18th that it is recruiting new host institutions to operate the 'Innovation Startup School' for universities, public institutions, and the private sector. The Innovation Startup School provides systematic startup education such as business model establishment and practical startup skills for prospective entrepreneurs. Through this, it aims to nurture well-prepared entrepreneurs.

This year, the Innovation Startup School's startup education will be divided into two tracks: the 'Innovation Startup School Track (Prepared Entrepreneurs)' and the 'Deep Tech School Track (Future Entrepreneurs)'. The Innovation Startup School Track offers online and offline startup education including entrepreneurship and practical startup training, as well as minimum viable product development, targeting prospective entrepreneurs with innovative technological ideas.

The Innovation Startup School Track plans to select four host institutions across three technology fields: general manufacturing, IT & services, and bio & healthcare. Selected host institutions will receive government support funds of approximately 300 million KRW. They are required to conduct about seven months of online basic and practical startup education, investment attraction, and other startup preparation training for more than 2,100 prospective entrepreneurs.

The Deep Tech School Track provides startup education that shares and discovers creative ideas and develops them into feasible models for prospective entrepreneurs. Two host institutions will be selected to foster 40 future entrepreneurs through discussion-based classes, team building for idea sharing, expert mentoring, and business simulation. The host institutions will receive government support funds of approximately 250 million KRW.

The Ministry of SMEs and Startups will select the Innovation Startup School host institutions through qualification review, document evaluation, presentation evaluation, and a review committee. The operation period for selected host institutions is basically one year, but it can be extended up to two years through annual performance evaluations.

Minister Lee Young said, "We will strive to include everything from basic startup education, such as understanding and preparation for startups, to investment attraction in the Innovation Startup School," adding, "We will make the Innovation Startup School a practical startup education program that responds to rapid technological changes and enables the development of new services and products, helping prospective entrepreneurs who wish to start a business."

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