Ministry of SMEs and Startups Employees Work in Venture and Startup Clusters... "Reflected in Policy Planning"

Pilot Operation of On-site Administration for Venture and Startup Companies
Continuous Communication through Company Visits and Listening to Difficulties

Minister Kwon Chil-seung of the Ministry of SMEs and Startups held a meeting on the 22nd with seven young startup leaders who received the CES 2021 Innovation Award and were selected as Forbes Asia 30 Under 30 leaders at Tipstown S1 in Gangnam-gu, Seoul. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups announced on the 18th that it has been piloting on-site administration for venture and startup companies based at TIPS Town in Yeoksam-dong, Seoul, starting this year.

This on-site communication program was established for practical public officials at grade 4 and 5 or below to work at TIPS Town, experience and communicate with the venture and startup ecosystem, and plan policies.

Participants were selected mainly from employees of the Startup Venture Innovation Office, which is in charge of startup, venture, and technology development policies, who demonstrated excellent affinity, proactiveness, and creative work attitudes.

The participating employees work on the first floor of TIPS Town S1, where startup companies and venture capital (VC) firms are located, and continuously communicate by visiting venture and startup companies within or near the building or listening to the companies' concerns.

Minister Kwon Chil-seung of the Ministry of SMEs and Startups said, "I proposed a new learning model where employees directly visit the field to learn how venture and startup companies work and listen to what they want."

He added, "We plan to share the on-site experiences throughout the ministry so that employees can utilize them when planning policies in the future."