The Ministry of SMEs and Startups said on the 17th that it held an on-site roundtable to identify obstacles to second-chance entrepreneurship at the Pangyo Startup Zone in Seongnam, Gyeonggi Province.
The roundtable was arranged to directly hear the difficulties felt in the field of re-entrepreneurship and reflect them in policy. Representatives from seven re-startup companies and officials from support institutions took part.
The Ministry of SMEs and Startups (MSS) will hold a three-week "relay roundtable" starting with this session. In the first and second sessions, it will listen to on-site opinions, and in the third session, it plans to seek improvement measures with experts.
Re-startup businesspeople who attended the roundtable said that institutional barriers, such as restrictions on financial transaction due to past failures, are formed and proposed easing regulations.
Previously, the Ministry of SMEs and Startups (MSS) also launched the "Rechallenge Support Headquarters," a public-private partnership that oversees the discovery and support of rechallenge policies and awareness improvement. In Apr. this year, through an extra budget, it additionally secured 60 billion won for ▲ commercialization of re-startup corporations ▲ funding support, and is working to create an environment that enables a fresh start.
Starting this month with the production and distribution of a closure guidebook, it will also strengthen the growth base of re-startup corporations by holding investor relations (IR) sessions for investment-based rechallenge and operating group mentoring. It also plans to spread a culture that recognizes failure as an asset by holding a Failure Concert and Rechallenge Day.
First Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups (MSS) said, "Failure is not a shameful record but a valuable innovation asset for a greater leap forward," and added, "We will identify and improve regulations and systems that act as obstacles in the re-startup process, including the financial stigma effect raised today."