Korea Federation of SMEs Holds 'Joint Business Model Contest'

Applications accepted until May 30
Open to cooperatives, individuals, and organizations

The Korea Federation of SMEs announced on the 6th that it will hold a 'Joint Business Model Contest' to discover new ideas and spread best practices for business models by type of joint business in small and medium enterprise cooperatives.

The application period is until the 30th of next month, and the contest categories are ▲Expansion and deepening of excellent models ▲New joint business model ideas. Anyone, including cooperatives, individuals, and organizations, can participate.

The contest themes are ▲Business models by type of joint business ▲Other joint businesses (R&D, joint facilities, testing and certification, mediation and coordination, education, etc.). Participants are encouraged to propose ideas for expanding and revitalizing business models by focusing on joint businesses among cooperatives, utilization of cooperative support systems, and leveraging the status of small and medium enterprise owners.

Among the submitted proposals, award-winning works selected based on theme relevance, idea originality, feasibility, and effectiveness will receive certificates and prize money.

Jojin-hyung, Acting Executive Vice President of the Korea Federation of SMEs, said, “Small and medium enterprise cooperatives are collaborative platforms among companies that overcome the limitations of individual SMEs’ resources and scale to create mutual benefits, and the joint businesses carried out by cooperatives represent the future of cooperatives.” He added, “We hope that this contest will widely promote innovation in existing joint business models and the sharing of newly discovered joint business model ideas.”