"We have entered a recovery phase in investment, but we are still assessing startups based on the harsh winter criteria. We are evaluating conservatively not only their growth potential but also whether they are generating actual revenue and profits."
On the 3rd, the first session of the '2025 C Forum', organized by CNT Tech and ChosunBiz, brought together participants from accelerators (AC), venture capitalists (VC), and others to discuss 'In recovery, what should entrepreneurs prepare for?' The C Forum is an event hosted by ChosunBiz that helps startups and various ecosystem stakeholders connect (Connect), collaborate (Collaborate), and create (Create) new value.
Kim Moon-kyu, a professor of Impact MBA at KAIST Business School, noted, "To drive impactful change through entrepreneurship, it is important to establish a sustainable structure. We should not just think of entrepreneurship as a tool to hit the jackpot after investing time or resources, but as a journey that flows through life, requiring constant growth."
Professor Kim emphasized the importance of 'continuous learning.' He said, "If an entrepreneur does not understand what the problem is, what pain customers are experiencing, what solutions should be provided to them, and what reactions they exhibit throughout the process, the venture will fail. To grow, one must cultivate the ability to solve problems through learning how to avoid mistakes made in the past."
Hong Jong-cheol, CEO of InfoBank I-Excel, said, "The most important attitude for entrepreneurs is to 'work hard.'" He explained, "Before the first half of 2022, there were accelerators that invested based solely on potential and growth, but from the second half of 2022, it has become difficult to secure investments without seeing figures like revenue and operating profit, so entrepreneurs need to pay attention to these numbers."
Hong also mentioned the significance of 'people.' He stated, "If an entrepreneur drastically increases the size of the organization after receiving investment, the company can face severe crises when difficulties arise." He added, "As startups undertake the TIPS tasks, if they mismanage people, promising companies can also shut down in the process, so entrepreneurs must carefully consider the process of hiring and letting people go."
Han Myung-soo, Chief Creative Officer of Baedal Minjok, emphasized that a 'joyful organizational culture' is crucial for corporate sustainability. Han said, "When a corporation grows, it can overcome various problems and moments of despair through growth alone. However, when a corporation stagnates or faces challenges, it will encounter various organizational issues. Therefore, the leadership of the entrepreneur in responding to crises is vital."
Park Seo-young, CEO of food tech startup SY, shared ways to navigate crises as an entrepreneur. He stated, "I endure difficult days by reflecting on why I started this business each morning, and I focus on the business with the mindset of growing a little every day."
Park also noted, "When encountering negative reactions in the market, the leader's positive mindset is crucial." He said, "If the entrepreneur starts to doubt, the employees' self-esteem will drop even further, but searching for various methods to overcome problems can lead to discovering new business opportunities."