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KT&G Sangsang Startup Camp 8th Global Track: Young Entrepreneurs' Global Challenge for Social Innovation

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Created: 2024-04-26

Created: 2024-04-26 10:41

KT&G and MYSC (MY Social Company), a social innovation consulting and impact investing firm, have officially launched the 8th KT&G Sangsang Startup Camp Global Track. The program kicked off with a boot camp held on April 18th and 19th for the selected social ventures.

The ‘KT&G Sangsang Startup Camp’ is a program that provides practical support to young entrepreneurs who aim to address social issues through business innovation. KT&G has been continuously running this program since 2017. The newly introduced Global Track, specifically designed for social innovation startups aiming to expand into Indonesia, offers market consultation and Indonesia-specific programs. Participating companies will gain a deep understanding of the local market, enabling them to develop and implement strategic plans. Furthermore, the program facilitates connections with local venture capitalists and provides networking opportunities with Indonesian startups, fostering a conducive environment for active participation in the dynamic Indonesian business ecosystem.

This boot camp, held at Sangsangmadang Chuncheon, focused on diagnosing each company's current status and formulating plans for expansion into Indonesia. Through various lectures and workshops, participants were instilled with the mindset required for navigating the global business landscape. Notably, sessions emphasized the importance of generating social impact through Indonesian market entry, specifically tailored for social innovation startups.

In line with the program's focus on Indonesian market entry, sessions were dedicated to enhancing participants' understanding of Indonesian culture, language, political stability and changes, and geographical characteristics. This helped startups gain insights into diverse aspects to consider when entering the Indonesian market, enabling them to develop effective strategies.

Following the boot camp, the ‘KT&G Sangsang Startup Camp’ 8th Global Track will provide expert consulting and overseas expansion advisory services to strengthen the foundational capabilities for global expansion. The program will progress through a domestic preparation phase (Deep Impact Discovery Week), followed by an Indonesia-specific program (Deep Impact Discovery Week) conducted on-site. Subsequently, IR consulting will be offered. In late August, a Pitching Day and Investor Meet-up will take place, with a total prize money of 20 million KRW awarded to outstanding startups.

Five teams participated in the 8th Global Track: Slunch Factory (vegan ready-to-eat meals), Yoonhoe (clothing lifecycle solutions), Robigos (logistics inventory and demand forecasting system), Greencontinue (eco-friendly leather development), and Dive Group (in-room hotel content solutions).

Through the ‘Sangsang Startup Camp’, KT&G has fostered a total of 144 startup teams, generating over 4.2 billion KRW in cumulative revenue and creating over 830 jobs. These efforts reflect KT&G’s commitment to empowering young entrepreneurs to create social impact through innovative business solutions. The 8th Global Track of the ‘Sangsang Startup Camp’ is expected to provide the support young entrepreneurs need to gain recognition in the global arena.

About MYSC (MY Social Company)

MYSC (MY Social Company) is a social innovation consulting and impact investing firm. Since its establishment in 2011, MYSC has been providing consulting, investment, and collaboration services to major corporations, public institutions, and startups that focus on developing innovative business models that solve social problems and create social value. Based on three innovative models (inter-sector collaboration, human-centered approach, and blended value creation) and a corporate culture centered around internal entrepreneurship, MYSC has evolved into an ‘innovation-driving innovation company’. In 2016, MYSC received B Corp certification as a global socially responsible company. Since 2018, MYSC has been registered as a startup planning company (accelerator) by the Ministry of SMEs and Startups and has been actively operating as a social venture specialized accelerator. MYSC supports social ventures in achieving both financial gains and social impact. In particular, MYSC contributes to the diffusion of social venturing through open innovation with large corporations, fostering the embedding of social impact within the business ecosystem.

Website: http://mysc.co.kr

Contact
MYSC (MY Social Company)
Hye-young Jeon, Researcher
+82-2-499-5111

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