KT&G, together with MYSC (MY Social Company), a professional consulting and impact investment firm for social innovation, launched the 'KT&G Sangsang Startup Camp' 8th Global Track program on April 4th. The program kicked off with a 1-night-2-day bootcamp held on April 18th and 19th for the selected social ventures.

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The 'KT&G Sangsang Startup Camp' is a program that provides practical support to young entrepreneurs who are striving to solve social problems through business innovation. KT&G has been continuously promoting the program since 2017. The Global Track, newly launched this year, provides market consulting and Indonesia-specific programs for social innovation startups hoping to expand globally, particularly to Indonesia. Through the program, participating companies gain a deep understanding of the local market, enabling them to develop and execute strategies. The program also facilitates market consulting and connections with venture capitalists in Indonesia, and provides networking opportunities with local startups, creating an environment for them to participate in the vibrant local business ecosystem in Indonesia.

This bootcamp, held at Sangsang Madang Chuncheon, focused on diagnosing the current status of each company and formulating plans for entering the Indonesian market. Through various lectures and workshops, participants were instilled with the mindset for navigating the global business environment. The program also featured lectures on how to generate impact through entry into Indonesia for social innovation startups.

In line with the program's theme of targeting Indonesia, time was allocated to enhance participants' understanding of Indonesia's diverse culture, language, political stability and changes, and geographical characteristics. This helped startups identify various aspects to consider when entering Indonesia and develop strategies.

The 'KT&G Sangsang Startup Camp' 8th Global Track will provide expert consulting and overseas expansion consulting services to strengthen the global expansion foundation capabilities, starting with the bootcamp. Following the domestic preparation stage (Deep Impact Discovery Week), the Indonesia-specific program (Deep Impact Discovery Week) will be held in Indonesia, followed by IR consulting. In late August, a pitch day and investor meetup will take place, with a total prize of 20 million won to be awarded to outstanding companies.

Five teams participated in the 8th Global Track, including 'Slunch Factory (vegan ready-to-eat meals)', 'Yunhoe (clothing life cycle solution)', 'Lobigos (logistics inventory and demand forecasting system)', 'Greencontinue (eco-friendly leather development)', and 'Dive Group (hotel room content solution)'.

Through the 'Sangsang Startup Camp', KT&G has fostered a total of 144 startup teams. The accumulated revenue from these teams exceeds 42 billion won, and the employment effect reaches over 830 people. KT&G's efforts demonstrate its commitment to empowering young entrepreneurs to create social impact through creative business solutions. The 8th Global Track of the 'Sangsang Startup Camp' is expected to support young entrepreneurs in gaining global recognition.

MY Social Company Introduction

MYSC (MY Social Company) is a social innovation consulting and impact investment firm. Since its establishment in 2011, it has been providing consulting, investment, and collaboration services to large corporations, public institutions, and startups engaged in innovative business models that solve social problems and create social value. Based on its three innovative models (cross-sector collaboration, human-centered approach, mixed value creation) and its intrapreneurship-centered organizational culture, MYSC is developing into an 'innovation company that supports innovation'. In 2016, MYSC received the global social responsibility business B Corp certification. Since registering as a startup planning company (accelerator) with the Ministry of SMEs and Startups in 2018, MYSC has been actively involved as a specialized social venture accelerator, supporting social ventures in creating both financial profits and social impact. Particularly, MYSC contributes to the spread of social venturing through open innovation with large corporations, fostering the integration of social impact into the business ecosystem.

Website: http://mysc.co.kr

Contact Information
MY Social Company
Hye-Young Jeon, Researcher
02-499-5111