First Social Venture Incubating Center in the Nation
<Social Ventures Start-ups>
Social Ventures which are founded to solve social problems provide public social services and job positions for local people as well as generate revenues.
<First Social Venture Incubating Center in Korea>
Daejeon supports creation of social ventures that generate social value and economic benefits. A new technology-based 'Social Venture Incubating Center' is the first established in the nation. The center based on new technologies and creativity related to the 4th Industry Revolution will provide diverse supports to solve social problems, improve public interest and create more job positions.
In particular, they will establish a dedicated space for ‘Social Venture Startups’ and support their commercialization. It will be housed on the fourth floor of Daejeon City Corporation at Joonang-ro and specialized start-up spaces, education facilities and conference rooms will be lodged.
[Social Venture Incubating Center]
<Impact Investment Fund>
In addition, the city will provide 'Social Venture Impact Investment Fund' to support the development and growth of social venture startups.
KRW 15 billion will be accumulated, KRW 10 billion from Korea Fund of Funds, KRW 1 billion from Daejeon City, KRW 4 billion from the general union members including the management company.
Daejeon Creative Economy Innovation Center will be designated as an operating institution to promote social venture startups, and will try to include young people into local economy by providing business start-up space, networking, consulting, product promotion and sales support.
Construction of the social venture Incubating Center, which is the seventh elected government’s public pledge, will play a role of creating social venture street as well as creating ‘Special Social Venture District’.