11st, Seoul City Support University Student Entrepreneurs

[Asia Economy Reporter Seungjin Lee] 11st and the Seoul Metropolitan Government are holding the ‘Campustown Startup Company Product Special Exhibition’ until the 24th to revitalize online sales for young entrepreneurs struggling due to the prolonged COVID-19 pandemic.

This event sells innovative idea products and socially valuable products from 23 startup teams within 22 universities located in Seoul. It was organized to support young university students whose offline sales activities have been restricted. Since October last year, 11st has signed a Memorandum of Understanding (MOU) with the Seoul Metropolitan Government and the Campustown Policy Council and has been supporting university student entrepreneurs in developing sales channels through online special exhibitions.

The ‘Campustown Startup Company Product Special Exhibition’ features about 90 products including ‘Bajyeottang Dosirak’ (a healthy lunchbox for patients with kidney disease and those requiring low-sugar, low-salt diets) by ‘Itmaple,’ a startup team from Seoul National University; ‘Mediela Hand Soap’ (an eco-friendly soap made from safe materials even if ingested) by ‘Yed Partners’ from Korea University; tumblers and AirPods cases made with drawings by children with severe rare incurable diseases by ‘Dandelion Mind’ from University of Seoul; the AR storybook ‘Our Precious Home’ by ‘Hello Place’ from Sungkyunkwan University; and ‘Protic’ (a stick-type protein supplement to improve sarcopenia in the elderly) developed by ‘Everytic’ from Yonsei University.

During the event, 11st will reduce the sales commission by 50% for participating sellers and issue a ‘20% discount coupon’ (up to 50,000 KRW) usable within the special exhibition to purchasing customers, actively supporting the sales activities of outstanding startup companies.

Kim Euisung, Director of Economic Policy at the Seoul Metropolitan Government, said, “The number of young entrepreneurs struggling to secure sales channels in the non-face-to-face era is increasing,” and added, “We expect the contact points between Campustown startups and consumers to expand through 11st, with whom we signed an MOU last year and continue to cooperate.”

Seo Beopgun, head of the 11st Mart division, said, “A variety of products have been prepared, ranging from innovative products with sparkling ideas to products focused on solving social and environmental problems,” and added, “11st will strive to support young entrepreneurs in various ways to become their online forward base.”