Joint Graduation Ceremony of Youth Startup Academy and Global Startup Academy

Palm Ace, Minister of SMEs Award
Rivit, President of KOSME Award Recipient

The Small and Medium Business Corporation announced on the 29th that it held a joint graduation ceremony for the Youth Startup Academy and the Global Startup Academy at the Small and Medium Business Training Institute located in Ansan, Gyeonggi Province.

About 100 people, including graduates and officials from the Youth Startup Academy and the Global Startup Academy, attended the graduation ceremony. Awards for outstanding graduate companies and diploma presentations, a special lecture on startup trends, and a discussion meeting on regulations and difficulties in the startup field were also held.

Three companies, including Farm Ace, a company developing health foods for women, received the Minister of SMEs and Startups Award for outstanding companies. Seven companies, including Rebit, which operates an AI-based carbon neutrality support platform for enterprises, received the Chairman of the Small and Medium Business Corporation Award.

Small and Medium Business Corporation

The Youth Startup Academy discovers excellent entrepreneurs with promising items and innovative technologies and supports all stages of startup with a package including up to 100 million KRW in commercialization funds, office space, prototype production infrastructure, and startup-related education and coaching. Since its opening in 2011, through the operation of 18 Youth Startup Academies nationwide until last year, it has discovered and nurtured 7,638 young entrepreneurs. It has produced achievements such as 4 companies listed on KOSDAQ, 2 unicorns, 4 prospective unicorns, and 16 baby unicorns.

The Global Startup Academy is a program that supports companies within 7 years of establishment operating in ultra-gap and new industry fields. It provides support for commercialization funds necessary for overseas expansion, education and mentoring, as well as overseas local expansion and investment attraction. Since its opening in 2020, it has nurtured 237 people over 4 years until last year, creating business results such as sales of 44.3 billion KRW, investment attraction of 25.9 billion KRW, and employment of 560 people.

Jo Han-gyo, Director of Human Resources Development at the Small and Medium Business Corporation, said, “Starting a business is a tough and lonely journey where you have to steer the wheel alone,” adding, “The Youth Startup Academy will always be with you so that this beautiful journey can overcome the hardships of startups and become a protagonist in the global economy.”

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