Jungjingong Partners with Private Operators of Cheongchangsa to Support Young Entrepreneurs
Agreement Signed with 4 Private Operators
Selection, Training, and Investment Attraction for Outstanding Entrepreneurs
[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 16th that it has signed a business agreement with four private operators of the Youth Startup Academy (hereinafter referred to as YSA).
The private-led YSA is a project where private operators equipped with investment resources and commercialization support capabilities directly select outstanding young entrepreneurs and provide specialized programs as well as scale-up opportunities through investment linkage. The private-led YSA, which was piloted last year in the Daejeon area, will be expanded this year to Northern Gyeonggi, Busan, and Jeju. The private operators are Bluepoint Partners, CNT Tech, Zephyrus Lab, and Y&Archer.
Last year, the Daejeon YSA operator directly invested 1 billion KRW in four enrolled companies and attracted follow-up investments of 2.8 billion KRW in nine companies, achieving a total investment performance of 3.8 billion KRW for 10 companies. This business agreement was promoted to ensure the early settlement and successful operation of the private-led YSA. SBC and the operators agreed to cooperate on ▲operating differentiated programs such as selection, nurturing, and direct investment ▲autonomous operation and responsible incubation ▲linking SBC policy projects with follow-up investments by each operator.
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Jo Han-gyo, Head of the Human Resources Growth Division at SBC, said, "The private-led YSA is a program that helps young startup companies with high growth potential secure market competitiveness early through close incubation and investment," adding, "We will actively cooperate with participating operators to make it a successful policy model led by the private sector and supported by the public sector."
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