Ulaanbaatar
Mongolia-South Korea Joint Startup Support Center to Be Established
Society
Ulaanbaatar, July 23, 2024 /MONTSAME/. The Governor's Office of Ulaanbaatar City and the Korea Institute of Startup and Entrepreneurship Development (KISED) under the Ministry of SMEs and Startups of South Korea have agreed to establish a Mongolia-South Korea Joint Startup Support Center.
The establishment of this center will contribute significantly to the development of Mongolia's startup ecosystem, enabling the economic circulation of innovative products and services, increasing exports, preparing and enhancing human resources, and facilitating the mutual exchange of experiences. Over the next three years, approximately 3,000 startup entrepreneurs will benefit from the center's services, over 1,000 public servants and specialists will participate in capacity-building and experience-sharing training, and 45 startups will receive support. Educational materials and training programs for startups and innovation will also be developed for secondary school and university students.
In this regard, Manduul Nyamandeleg, the Deputy Governor of the Governor's Office of Ulaanbaatar City in charge of Economic Development and Infrastructure, received Dr. Kim Jung Hyun, Advisor and Professor at KISED, on July 23, 2024. At the meeting, the two parties discussed the development of innovation-based businesses, support for high-impact social and economic businesses, capacity building for public servants, exchange of experiences, and student exchange programs.
N. Manduul stated, “We believe that the Innovation Center will create a favorable environment for improving the business climate in the two countries, connecting entrepreneurs, and exchanging best practices. The Capital City will fully support the operation of this center."
