Local Government's Supportive Policies ac-cording to the Growth Stages of Startup Busi-
ness in case of Seoul, Korea
Seowoo Chung, Sungkyunkwan University,
Korea
Parallel Session 2.1: Cluster Models Worldwide. Unique Features, Common Challenges
KOREA: THE BIGGEST STARTUP SUP-PORTING COUNTRY
• IMF: Financial Crisis
• Venture Boom
• Low Growth Economy
• Creative Economy
Start-up Supportive Oragnizations
Central Government Local Government
Seoul
Gyeonggi
$1,621
$266
$3,995
$2,004
SMBA 2015 Annual Budget: $7.9 Billion(Unit:Million, $1= ￦ 1,000)
Normal Accounting Local Development FinancingMedium Enterprises Financing Small Enterprises Financing
$1,500
$100
$350$113
$212
$600
SMBA Loan for Small and Medium-sized Enterprises Total $2.9 Billion (Unit:Million, $1= ￦ 1,000)
Initiative Startups Package Financing R&DDevelopment Revival Management Support
STARTUP GROWTH STAGES:View of Policies
Stage : Preparation (Start-up)Ⅰ
Stage : Action (Survival)Ⅱ
Stage : Development (Step-Up)Ⅲ
Stage : Revival (Re-Start)Ⅳ
STARTUP GROWTH STAGES:View of Policies
Stage : Preparation (Start-up)Ⅰ• Financial Support• Provide Education, Office, Network, and Commercialization• Hierachy: Age, Gender, and Working population
Stage : Action (Survival)Ⅱ
Stage : Development (Step-Up)Ⅲ
Stage : Revival (Re-Start)Ⅳ
STARTUP GROWTH STAGES:View of Policies
Stage : Preparation (Start-up)Ⅰ
Stage : Action (Survival)Ⅱ• Financial Support: Contribution, Subsidy, Loan, Guarantee• Specified Support: Prototyping, R&D, Marketing, Office, Coaching, etc.• Age: Less than 3, 5, or 7 years, Before the ‘Death-Valley’
Stage : Development (Step-Up)Ⅲ
Stage : Revival (Re-Start)Ⅳ
STARTUP GROWTH STAGES:View of Policies
Stage : Preparation (Start-up)Ⅰ
Stage : Action (Survival)Ⅱ
Stage : Development (Step-Up)Ⅲ• In or After the ‘Death-Valley’• Coaching and Consulting, Financial: Loan, Guarantee• R&D Support: Finance, Coaching, Business Modeling, Commercializing
Stage : Revival (Re-Start)Ⅳ
STARTUP GROWTH STAGES:View of Policies
Stage : Preparation (Start-up)Ⅰ
Stage : Action (Survival)Ⅱ
Stage : Development (Step-Up)Ⅲ
Stage : Revival (Re-Start)Ⅳ• Education: Case-Study, Business Renovation, Strategy Studying• Consulting, Boot-Camp, Financial Support• Founding Specialized Organizations
Local Government: Seoul
• Hierachy: Youth, Women, Senior• Competitive Exhibition• Hackathon• Challenge 1000 Project• SEOUL T-Stars 2015
• Culture/Media: DMC Center• Global Network• Media, Contents, Broadcast
• IoT, ICT, IT…
Limitation of Policies
• Field• IT/ICT
• Repetition• Double Benefit• Multiple Application
• Bias(Narrow-Based)• Money• Space
• Unbalanced• Early Growth-Stage Fo-
cused• Lack of Revival Support
Next Step: Cluster
Creative Korea
Seowoo ChungMaster Course , Sungkyunkwan University, School of Tel : +82 10 6300 7451Mail : [email protected]
Junyoung Oh Master Course , Sungkyunkwan UniversityTel : +82 10 3903 4379Mail : [email protected]
