Chairman Kim Hak-do Holds Meeting with Graduates of Youth Startup Academy

"Leading Sustainable Growth of Startups by Convergently Supporting Core Technology Commercialization Policies"

At the meeting with the graduate companies of the Youth Startup Academy held on the 9th, Director Kim Hak-do is speaking.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 9th that it held an on-site meeting with graduates of the Youth Startup Academy at TOrder (CEO Kwon Sung-taek) located in Guro-gu, Seoul.

The meeting was attended by Chairman Kim Hak-do and five startup CEOs who graduated from the Youth Startup Academy. The meeting was conducted with minimal attendees and strictly adhered to the government's COVID-19 prevention guidelines, including mask-wearing.

Participants shared voices from the field, such as difficulties in operating startups, and exchanged various opinions including policy proposals for effective startup support.

The representatives of the graduate companies stated that although startups have completed product development, there are limitations in marketing and attracting investment, making it difficult to convert into actual sales. They requested support measures targeting companies at the initial market entry stage. Jisung Jeong, CEO of SOS Lab, said, "We hope SBC will also take an interest in establishing systems to secure management stability of companies along with revitalizing the investment ecosystem for startup financing."

Before the meeting, Chairman Kim demonstrated the serving robot of TOrder, a food order integrated platform service company. SBC supported the commercialization of TOrder’s startup through the Youth Startup Academy in 2019, and last year, based on the evaluation of business performance and growth potential, it linked support for growth-sharing funds and investment attraction activities.

Chairman Kim said, "I was able to feel the vivid growing pains startups are experiencing and the passion of young people to turn the COVID crisis into an opportunity," adding, "We will lead the successful commercialization and sustainable growth of young entrepreneurs by providing integrated support through various policy tools such as funding, marketing, and R&D."