Let your challenge experiences be heard
- Division
- Turnaround Support Division
- Date
- 2018.08.01
- Writer
- Deputy Director Jongwon Moon
- File
- Headline
- In the 2018 competition for picking excellent stories of innovative failure, the ministry will give the winner ministerial-level prize, and reward worth of $0.2 million.
The Ministry of SMEs and Startups announced that it would start receiving the 2018 applications for excellent stories of innovative failure, aiming to share previous failure experiences of re-startups and expand rechallenge culture from July 30th. This competition is aimed at expanding the stories of innovative failure and speading the recognition that failure is a natural process before a startup is successfully launched. Would-be re-starup entrepreneurs and restartups hoping to participate in the competition are required to submit their stories and business plan which contains their restartup items at www.k-startup.go.kr from July 30 to Aug.30.
MSS will make an open evaluation on the stories that pass written evaluation in September in the upcoming failure expo to be jointly held with the Ministry of Interior and Safety. For 15 winnders, MSS will give prizes to be awarded by the Minister of SMEs and Startups and Minister of Interior and Safety as well as reward worth of $0.2 million and extra evaluation points in the 2019 Successful Rechallenge Package. Director of Turnaround Support of the ministry said that it is expected to expand positive awareness about failure through the competition and the ministry plans to reinforce support for excellent restartup entrepreneurs along with increased efforts to improve awareness about failure.
MSS will make an open evaluation on the stories that pass written evaluation in September in the upcoming failure expo to be jointly held with the Ministry of Interior and Safety. For 15 winnders, MSS will give prizes to be awarded by the Minister of SMEs and Startups and Minister of Interior and Safety as well as reward worth of $0.2 million and extra evaluation points in the 2019 Successful Rechallenge Package. Director of Turnaround Support of the ministry said that it is expected to expand positive awareness about failure through the competition and the ministry plans to reinforce support for excellent restartup entrepreneurs along with increased efforts to improve awareness about failure.