Universities: Key Driver for Local and Youth Entrepreneurship

Universities are leaping forward as the heart of the regional startup ecosystem. The Ministry of SMEs and Startups (MSS) announced its ambition to intensively foster universities as cradles for innovative startups and key pillars for regional economic revitalization, successfully hosting the 'Campus Startup Springboard' event at Chungbuk National University on the 27th. This event, true to its name, embodies a strong commitment to making universities a 'springboard' for young entrepreneurs' dreams and fostering a vibrant startup atmosphere like a spring day. About 50 people, including MSS Minister Oh Young-ju, the President of the Korea Institute of Startup & Entrepreneurship Development (KISED), presidents of 11 startup-focused universities nationwide, and representatives of outstanding young startup companies, gathered together, opening a new chapter for university-led startup vitalization. Particularly noteworthy news is that Chungbuk National University and Chonnam National University will newly join as startup-focused universities starting in 2025, expanding this program to a total of 11 universities designated across different regions nationwide. Now, led by Hanyang University and Sungkyunkwan University in the Seoul Metropolitan Area, Chungbuk National University, Hoseo University, and Hannam University in the Chungcheong region, Chonnam National University and Chonbuk National University in the Honam region, Kangwon National University in the Gangwon region, Daegu University in the Daegyeong region, and Pusan National University and Gyeongsang National University in the Southeastern region will serve as focal points for startup vitalization. This demonstrates the MSS's firm commitment to balanced regional development. On this day, the MSS and the 11 startup-focused universities joined forces to sign a business agreement, pledging mutual cooperation to create a university-driven startup ecosystem and strengthen their roles as regional startup hubs. Particularly eye-catching is the commitment to actively link the universities' rich startup infrastructure and investment resources to fully support the growth of promising startup companies. This is expected to become a practical link that goes beyond mere support, connecting university assets to the success of startups. During the event, the visions and support strategies of the newly designated startup-focused universities were shared, followed by presentations of successful cases from young startup companies already achieving innovative results. 'Woops', which reuses textile waste as construction materials, and 'ForNatures', which developed an air purification and carbon reduction system using microalgae, vividly showcased the creative challenges of young people for a sustainable future, receiving great acclaim from attendees. Through this event, MSS Minister Oh Young-ju emphasized, "We will provide unstinting support to ensure that the excellent human resources and technological capabilities of startup-focused universities become reliable strongholds of the regional startup ecosystem and cradles for nurturing innovative startups by young entrepreneurs." She added, "We expect these universities to firmly establish themselves as practical startup support entities within their regions and serve as a solid foundation for startups to grow stably," expressing strong anticipation and commitment to revitalizing the university-centered startup ecosystem.