Solving Startup Issues with Specialized Capability BI... Industry-Academia Cooperation and Regional Hubs

Ministry of SMEs Selects 43 Specialized Capability BIs
"Startup Growth Will Be Accelerated"

The Ministry of SMEs and Startups announced on the 14th that it has selected 43 specialized capability Business Incubation Centers (BIs) to solve various problems of 1,000 early-stage startup companies and promote their growth.

Minister Oh Young-joo of the Ministry of SMEs and Startups visited the Sejong Startup Promotion Agency on the 3rd to discuss key business achievements and future plans.
[Photo by Yonhap News]

The specialized capability BIs are categorized into three types: industry-academia cooperation, industry specialization, and regional hubs. The government has been strengthening the startup incubation functions of BIs through projects such as the 'Incubation Capacity Enhancement Project.' Based on the results of a research service conducted last December, the project was reorganized.

The industry-academia cooperation type BI forms a startup support council within universities and enhances industry-academia linkage mentoring and project planning to resolve technical difficulties faced by startup companies. It discovers latent entrepreneurial DNA among professors and students and operates customized programs for startup execution.

The industry specialization type BI supports problem-solving through specialized and customized programs in cooperation with regional key industry support organizations. It conducts demonstration, investment attraction, and market development through dedicated coaching between professional personnel from universities and research institutes and startup companies, as well as collaboration between specialized industry institutions and enterprises.

The regional hub type BI operates joint incubation programs through collaboration among regional BIs and creates synergy through role-sharing among institutions. It plans to discover and nurture startup founders in regional key industries or specialized fields capable of scaling up through regional hub infrastructure and implement step-by-step enterprise support programs.

Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, said, “It is meaningful to reorganize the startup incubation fostering system into a problem-solving focus through BIs with specialized capabilities,” and added, “It will promote the growth of startup companies through customized programs tailored to the regional startup ecosystem.”

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