Idea Factory Program: Supporting Start-Ups for Low-Carbon Innovation
The Idea Factory Program at Chonnam National University aims to discover and support promising entrepreneurs, including young, senior, and aspiring start-up founders. The program provides tailored assistance, such as entrepreneurship training, consulting, and marketing support, to guide these start-ups through the various stages of growth, ultimately increasing the success rate of new businesses. In 2023, several innovative projects were selected, including those focused on low-carbon economy and environmental technology innovation.
Main Objectives
- Discover and support promising entrepreneurs (young, senior, and aspiring) with customized assistance, improving their chances of success.
- Provide marketing and consulting support to existing entrepreneurs, helping them succeed in their current ventures or transition to other sectors.
Selected Companies and Projects
In the 2023 Idea Factory Program, several companies working on innovative ideas were selected. Some of these projects directly contribute to the low-carbon economy:
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Nextree Co., Ltd.
- Project: Development of a rapid mass-propagation system for fruit seedlings using environmental control technology to shorten dormancy periods.
- Support Amount: 45 million KRW
- Impact: This project focuses on mitigating the effects of climate change by enabling the rapid production of fruit seedlings, especially for subtropical fruits. The innovation contributes to sustainable agriculture and has the potential to impact the low-carbon agricultural sector.
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Greener Lab Co., Ltd.
- Project: Tree management solutions using electronic medical records (EMR) systems for landscape management.
- Support Amount: 35 million KRW
- Impact: The application of EMR systems to tree management enhances the efficiency of urban green space management. This solution supports carbon neutrality efforts, contributing to low-carbon innovation in landscape and urban environmental management.
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Heritage Hus
- Project: Local-based interior design education services utilizing old residential spaces.
- Support Amount: 35 million KRW
- Impact: This project repurposes unused spaces for education and local community revitalization, contributing to sustainable urban regeneration and low-carbon economic development.
Capacity-Building Training and Consulting
The Idea Factory program also offers tailored training programs to strengthen the capabilities of start-up founders. From August 30 to September 20, 2023, a Scale UP! Capacity-Building Training Program was held over four sessions (6 hours in total), aimed at start-ups selected for the 2023 Idea Factory and other regional start-ups.
The training topics included:
- Investment Strategies: How to create successful IR materials, understanding business models, and approaching investors.
- Intellectual Property Rights: The importance of intellectual property, patent requirements, and building an IP portfolio.
- Labor Management: Essential labor laws and regulations for business operations.
- Financial Management: Cash flow, asset management, and tax management strategies.
This training helped start-ups focused on low-carbon technology enhance their skills in securing investment and scaling their businesses.
Future Plans
The Idea Factory program plans to continue discovering and supporting start-ups that focus on low-carbon innovation and addressing climate change. By providing tailored assistance to these entrepreneurs, the program will contribute to both local and national efforts to transition to a low-carbon economy and foster sustainable development.
※ Evidence: 2023 Idea Factory Final Report
