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Daegu City and the Daegu Creative Economy Innovation Center successfully held the '2018 Social Venture Global Forum in Daegu' on November 7 at the C-quad of the Daegu Creative Economy Innovation Center to activate social ventures, which are drawing attention as a new job creation model, and to explore global trends and social changes. They also signed a memorandum of understanding (MOU) to expand the social venture startup ecosystem. A social venture is a company established to solve social problems with the aim of pursuing both public interest and profitability simultaneously. The forum was held as part of the 'Youth Social Venture Development Project' being promoted this year, aimed at illuminating the present and future of social ventures and establishing a global network and expanding the startup ecosystem. It was conducted with lectures, workshops, case exhibitions, and networking, with support from the Daegu-Gyeongbuk Design Center, Hanyang University, and the United Kingdom's Goldsmiths University & Pi Studio. Additionally, to establish a global social venture network, Daegu City signed an MOU with the Daegu Creative Economy Innovation Center and Goldsmiths University in the UK. Through this agreement, the three institutions plan to cooperate on various projects to expand the social venture startup ecosystem, including jointly hosting conferences and seminars and developing training and educational programs for social venture startups through mutual networks. Goldsmiths University (established in 1891) is a prestigious public university located in London, renowned for excellence in art, design, and creative fields. It pursues innovative and challenging programs in creative arts, humanities, and social sciences. Particularly, Pi Studio, a key subsidiary of Goldsmiths University, is carrying out numerous international projects through technology and creative applications, design thinking, and innovative design applications in a wide range of social and cultural fields. The lectures began with a keynote speech titled 'Social Change Through Design' by Professor Andrew Schei from Parsons School of Design in the United States (Director of the New York Communication Design Studio). Session 1 on 'Social Change' featured speakers Professor Alison Prendiville from the University of London and Professor Ducan Fairfax from Goldsmiths University's Pi Studio. Session 2 on 'Social Impact' featured speakers Kim Jeong-heon, CEO of Underdogs, a domestic social venture incubator, and Cole Chien, General Manager of Quest Ventures, a venture capital firm in Singapore, with case-focused presentations. At the end of the lectures, a talk concert-style panel discussion was held with the participation of speakers and social venture-related figures, moderated by Professor Lee Dong-young from Hanyang University. The panel discussion engaged in heated debates on topics including how social ventures can balance public interest and business, the conditions of social ventures, and why social ventures should be pursued. The workshop held as a side event was on the topic of 'Social Change Through Socially Engaged Art,' led by Professor Kim Mi-nam from Hanyang University. About 30 prospective entrepreneurs, existing entrepreneurs, and related institutional officials participated, contemplating ways to solve social problems through experience and participation, and exploring methods that could lead to social venture startups. In the coworking space on the second floor of the Creative Economy Innovation Center, case exhibitions from various social venture fields—environment, regional issues, underprivileged communities, education, quality of life improvement, and social criticism—introduced innovative business models and projects of social ventures. 'Project Memory,' a social venture company in Daegu participating in the case exhibition, is actively conducting business developing and selling fashion items through collaboration with regional artists to address forgotten memories in society. This year's Youth Social Venture Development Project identified and awarded 10 excellent ideas from social venture idea competitions. It established Social Nets (NEST), a practical startup education program, and linked 6 prospective and early-stage entrepreneurs to startup activities. For social venture commercialization support, it has selected 23 companies and provided funding to help create jobs and promote business growth. Daegu Mayor Kwon Young-jin stated, 'Daegu City is laying the foundation to solve and practice social problems through Social Living Labs, which are living laboratories, and social economy, and is actively nurturing youth social ventures centered on the Daegu Creative Economy Innovation Center. In the future, through social venture fund creation and impact investment, we will make Daegu a leading city in social ventures and further focus on creating youth jobs.' Social Living Lab refers to a social innovation system that derives solutions to social problems through experimentation with various stakeholders in actual living environments. Source: Sisa Magazine (http://www.sisamagazine.co.kr)