Jeonju University Successfully Concludes 'Idea Auction DAY' Leveraging Local Value

The Startup Support Group of Jeonju University announced on September 8 that it had successfully concluded the Idea Auction DAY of "Idea Auction in Jeonju" on September 5 at Seongsu Heyground in Seoul.

The Startup Support Group of Jeonju University successfully concluded the Idea Auction DAY of "Idea Auction in Jeonju" on the 5th at Seongsu Heyground in Seoul. Photo by Jeonju University

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The "Idea Auction in Jeonju" program is planned and operated by Jeonju University as part of its "Local Content-Focused University" initiative. The program aims to discover a variety of ideas that utilize the value of the local community, which is key to sustainable local entrepreneurship, and to identify the economic value and role of these ideas.

In particular, the program seeks to help participants understand that an idea itself can function as an asset with independent economic value, and that entrepreneurs can leverage the asset value of their ideas to develop a range of entrepreneurial strategies.

For this Idea Auction DAY, a total of 10 teams, including students from the Department of Business Administration, the Department of Local Venture Studies, the Department of Industrial Engineering, and the Department of Companion Animal and Plant Studies at Jeonju University, participated. Over the past two months, they have engaged in idea pitching and received feedback from experts to further develop and refine their ideas.

At Idea Auction DAY, approximately 30 local entrepreneurs and aspiring entrepreneurs from North Jeolla Province, along with the participating teams, competed to showcase the excellence of their local startup ideas. Outstanding ideas, as evaluated during the event, were given the opportunity to proceed to a purchase process.

Notably, "Comprehensive Nutritional Supplement Nutrition Jelly (Dadron)" and "Immersive Travel Content That Reinterprets Jeonju's Alleys Through Emotional Storytelling" received high praise among the ideas presented by various teams.

Jeonju University plans to continue supporting these outstanding ideas by connecting them to activities such as startup clubs, which are operated as part of the Local Content-Focused University initiative, so that they can grow into local entrepreneurs who bring positive change to the region.

Kim Sangjin, the professor in charge of Jeonju University's Local Content-Focused University initiative, said, "This program has served as an opportunity to deepen students' understanding of local entrepreneurship and local content ideas. Based on this experience, I believe they will play an important role in building a sustainable local entrepreneurship ecosystem."

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