The Korea SMEs & Startups Agency (KOSME), in collaboration with beSUCCESS Media Group, has launched its highly anticipated KOSME K-Unicorn Academy Program. This program aims to support young entrepreneurs in Korea by providing them with the necessary resources and opportunities to expand their ventures on a global scale.
KOSME (Korea SMEs & Startups Agency) plays a pivotal role in fostering the growth and development of small and medium-sized enterprises (SMEs) in Korea. Through its comprehensive range of financial and non-financial programs, KOSME aims to support SMEs in expanding their operations, diversifying their product offerings, and enhancing their global competitiveness.
The KOSME K-Unicorn Academy Program will be a transformative experience for aspiring young entrepreneurs. The orientation and pre-acceleration phase of the program was on July 18, where the young participants were introduced to the program and mentored by business experts. KOSME’s program will continue till August 11, 2023, with new sessions with experts in the industry each week.
This program received applications from 140 companies, all of which participated in the Youth Entrepreneurship Officer School program. Through a process of document screening and online interviews, 50 companies were selected in the initial round. These selected entrepreneurs, all under the age of 40, hail from a diverse range of early-stage companies, spanning sectors such as ICT, healthcare, SaaS, manufacturing, and beyond.
On July 18 orientation phase, participants got to familiarize themselves with the program structure and engage in networking activities. The program included informative sessions about various domestic and overseas programs in the United States, the Middle East, and Singapore. Eminent figures such as Eonho Lee, Representative Lawyer from Hanyoung Law Firm, Eunse Lee, CEO of 541 Ventures, Chris Chae, Executive Director of Nextrans, and Byeonggyu Kim, CEO of Xquared Inc, were leading the sessions.
The program began by Eonho Lee, Representative Lawyer, Hanyoung law firm, with an introduction to domestic and local programs, including those in the USA, the Middle East, and Singapore. Each company then had the opportunity for a 10-second self-introduction and mingling with others. A case study was also presented on overseas investment attraction and incorporation of startups in Silicon Valley, USA, and Singapore, focusing on recent legal issues and procedures for incorporation during foreign investment.
In the special lectures by Eunse Lee, CEO 541 ventures, Chris Chae, Executive Director, Nextrans and Byeonggyu Kim, CEO, Xquared Inc the participants gained insights on the US, Singapore and Middle-East investment trends, ecosystem and accelerating programs. They also learned about real-life examples of domestic startups participating in international accelerating programs, exploring successful and unsuccessful cases.
The program also focused on essential aspects such as expansion-related legal issues, procedures for incorporation during foreign investment, knowledge of ICT ecosystems, and methods for applying to current recruiting accelerator programs.
The KOSME K-Unicorn Academy program aims to equip participants with the necessary skills, knowledge, and networks to succeed in the global market. With the support and collaboration of KOSME and beSUCCESS Media Group, aspiring young entrepreneurs have an excellent opportunity to take their ventures to new heights on the global stage.
