Korea SMEs and Startups Agency (KOSME) is accelerating on-site support by expanding a group mentoring program to back the recovery and growth of entrepreneurs making a second attempt.
Korea SMEs and Startups Agency (KOSME) said on the 30th that it held the "Daejeon–Chungcheong region reattempt support headquarters group mentoring" at the Daejeon Reattempt and Innovation Campus on the 29th. The event was prepared to boost the determination of entrepreneurs who have experienced sluggish business or failure to try again and to help resolve practical management difficulties.
Group mentoring is one of the core tasks of the reattempt support headquarters, focusing beyond existing one-on-one counseling to encourage sharing of experiences and cooperation among corporations. The program consists of sharing cases of overcoming failure; tailored mentoring by field such as investment attraction, accounting, legal affairs, and labor; and networking among participating corporations and support institutions.
In particular, starting this year, the "Fail-Con" format has been newly introduced. A portmanteau of "fail" and "conference," it is a group program that focuses on reattempting entrepreneurs sharing their failure experiences and turning them into learning assets. A distinguishing feature is that external expert groups tailored to the industry and corporate characteristics join to present more realistic solutions.
This kind of group mentoring is considered effective in that it allows diverse cases and solutions that are hard to encounter through individual counseling to be shared in one place. As multidisciplinary advice from experts in each field is provided simultaneously, it helps diagnose problems three-dimensionally and flesh out actionable response strategies. Korea SMEs and Startups Agency (KOSME) plans to use this to raise the execution capability and resilience of reattempting corporations.
About 40 heads of reattempting corporations in the Daejeon–Chungcheong region and about 20 internal and external expert mentors attended the event. Related institutions, including the Ministry of SMEs and Startups, the Korea Institute of Startup and Entrepreneurship Development (KISED), and the Daejeon Center for Creative Economy and Innovation, also took part, collaborating with external experts such as attorneys and certified public accountants to present multidimensional solutions.
Kim Il-ho, head of corporate finance at Korea SMEs and Startups Agency (KOSME), said, "Because reattempting corporations have experienced failure or restructuring, opportunities to share and learn from similar cases are more important than anything else," adding, "Through this group mentoring, we expect not only that entrepreneurs will be connected with the experts they need, but also that new collaboration opportunities will be created through exchanges among corporations in similar situations."