ARCON, sponsors incubation in KOREA for young entrepreneurs in Vietnam
ARCON seeks new startup ideas in Asia
3-party MOU signed with UEH Connected and Campus K
December 28, 2018 10:00 KST
SEOUL, SOUTH KOREA--(Korea Newswire) December 28, 2018 -- ARCON (Chief Executive Director Heo, Injung) has announced on the 18th of December that it will support incubation in South Korea for the 5 final teams at Lead the Change 2018 Competition, held on the 13th of December. Lead the Change 2018 Competition was hosted by UEH Connected, which is an organization that operates projects for young entrepreneurs in Vietnam.
Lead the Change is one of the various projects at UEH Connected, founded in 2017. The project aims at finding new startups in Vietnam, starting with ideas from young adults who wish to bring innovation to the society. The ideas are followed by 1:1 coaching and a series of training for business model development.
UEH Connected is a non-profit organization in Vietnam, established in 2016. Its mission is to help young entrepreneurs reach out to the global market through education, mentoring and network. Currently, there are over 6,000 members that are trained by UEH Connected’s programs. Its vision is to empower young adults to widen their perspectives, enhance skills and share the values.
In September this year, at ‘ASSUM 2018,’ a global conference organized by Start Up Campus, UEH Connected and Start Up Campus have shared their vision on supporting new startups in Asia. This has led to mutual consent to introduce IdeArcon to registration, progress check and evaluation. IdeArcon isan ARCON’s unique online idea competition platform. Both parties provided coaching and evaluation at Lead the Change 2018, starting from November.
For Round 1 at Lead the Change 2018, around 1,500 young adults in Vietnam have participated, from which 123 ideas were chosen for the next round. Thereafter, expert judges chose 40 ideas for Round 2. The 40 contestants recorded a 2-minute pitching videos for evaluation from both expert judges and spectators. 20 contestants made it to the next round, where they participated in an offline workshop. At the workshop, 5 ideas were chosen and the 20 participants were divided into 5 teams. These teams worked together for the final round. UEH Connected stated that from Round 2, ARCON’s online system was used for all steps throughout the project and that its contributed to diverse ways of evaluation such as online video evaluation, expert judges’ scoring and votes from spectators. ARCON has sponsored the competition since October this year to find young entrepreneurs in Vietnam and provided offline coaching for the 40 contestants in Round 2.
ARCON will offer coaching and incubation opportunities in South Korea for the 5 teams that made it to the final. Also, for further collaboration, ARCON and UEH Connected has signed a 3-party MOU with Campus K, which is a newly opened co-working and incubating center in Vietnam. It is anticipated that ARCON would find new, aspiring startups all across Asia and help them enter into global market.
ARCON is a non-profit organization initially established to contribute to sustainable development by spreading values of culture and arts. It is designated as an official non-profit organization from the Ministry of Economy and Finances, as well as one of the four certified organizations for culture and arts sponsored by from Ministry of Culture, Sports and Tourism nationwide. Currently, ARCON is operating Start Up Campus, Understand Avenue, Shinhan Do Dream Space, as well as working with government entities and corporations on projects for various social contribution.
- Startupcampus: http://www.gstartupcampus.or.kr