2020-03-16
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Venture Square
Local creators refer to individuals who remain in declining historic city centers as large cities grow, and seek to regenerate cities through innovative methods. Recently, projects supporting them have been increasing. The government newly established a 4.4 billion won local creator voucher support project for the first time this year. This is a step-by-step customized support project to help local innovation creators commercialize their businesses, providing up to 50 million won per team. The need for nurturing local creators became prominent starting last year. In October last year, the government-led Local Creator Festa was held, bringing together local creators from across the nation. It was an event where public institutions including innovation creators and regional creative economy innovation centers participated in large numbers, discussing local revitalization measures, regional development strategies, creator cultivation, and job creation. As seminars and meetings on local creators are increasing, what strategies are needed to achieve successful regional development through local creators and lead to sustainable businesses? ◇ Regional entrepreneur education needed = When thinking about saving regions, people first think of spaces. According to a survey conducted by The Wave Company, local startups are mostly space-based ventures targeting visitors interested in design and content. Underdogs CEO Kim Jung-heon said, "The key to local creator businesses is software programs," and "While the power of space—building and remodeling good buildings in regions—is necessary, we must first think about what will fill that space and what work will be done there." He emphasized that more opportunities and resources should be shared with a focus on people. Underdogs conducted entrepreneurship education in Gunsan's Localize project and 12 other regions last year. According to Kim, the educational program in Gunsan recorded a 4:1 competition rate, contrary to expectations of difficulty in recruiting participants. Kim said, "Local entrepreneurs with content power and the will to execute it already exist in regions, but there were insufficient programs providing them actual opportunities to start businesses." He continued, "For programs to operate continuously and efficiently, regional universities must play the largest role," adding that "efforts to improve awareness about social impact through curriculum design and support program operations are necessary, and if universities perform more proactive and practical educational roles in nurturing social ventures and social innovators, this can certainly create major changes." ◇ Must create local entrepreneur-centered ecosystem = This year, the government newly established a local creator voucher support project. Previously, each regional creative economy innovation center or city itself recruited and supported local creators. This year, with a budget of 4.4 billion won, the government announced plans to actively nurture local creators. Additionally, last year, impact investment funds were established and investments are being made in local companies contributing to regional revitalization. Large corporations are also showing interest in regional projects. Corporate social contribution methods are becoming more diverse. SK E&S participated in the Localize regional project conducted in Gunsan last year and announced plans to continue support through 2021. The concentration of public and private attention on local entrepreneurs is positive in terms of sustainability. In fact, support for regional ecosystem development inevitably depends on government, private companies, and investors. While support is necessary, industry voices emphasize that the center of the ecosystem should always be entrepreneurs. If the public and private sectors become the center, it may be difficult to bring about innovative changes. Even with support, local creators themselves need to consider ways to expand the market where they can continue operating sustainable businesses. ◇ Collaboration with other regions necessary = Regional decline does not happen in only specific areas. Instead of caring only for our neighborhood and region, we must cooperate with a spirit of solidarity. Local Assemble, a collaboration of four startups operating in regions including Gangneung, Mokpo, and Siheung, conducts projects such as providing regional space service memberships to strengthen local impact. They also operate hackathons on the same topic at the same time, pursuing change and growth separately yet together. The Wave Company CEO Kim Ji-woo said, "Through information exchange and networking between companies, we plan to create a new paradigm for region-based entrepreneurship," and "Through collaboration and discussions with key local players nationwide, we will create sustainable entrepreneurship and business in regions."
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CEO : Jungheon Kim
