For each of the next three years, Dongseo University will receive 1.8 billion won in government funding (5.4 billion won in total) to continue and expand its efforts in providing education that fosters innovation and entrepreneurship. Dongseo was the only university in Busan selected for the 2016 Leading Universities in Entrepreneurship Foster Plan.
The Small and Medium Business Administration, along with the Korean Institute of Startup and Entrepreneurship Development (KISED), selected and announced 6 universities as leading candidates, including Dongseo University, Sungkyunkwan University, and Changwon University.
The Leading Universities in Entrepreneurship Foster Plan targets universities with the capability to support entrepreneurship. The plan supports a model of entrepreneurship specialized in the process of recruiting and educating potential entrepreneurs, determining startup items, supporting startup businesses, and accelerating business growth.
DSU is planning to discover and recruit “pre-entrepreneurs” and support them with specialized groups of mentors. Together they will figure out and upgrade startup items which are deemed competitive according to market demands. Also, DSU will support participants with high-tech equipment and facilities within the university and allow them to utilize DSU’s broad global connections.
The university has been working on innovative education aimed at entrepreneurship based on a concept called “Design Thinking,” which combines various types of creative education. DSU is preparing to outsource innovative technology for this type of entrepreneurship in the current creative economic era.
President Jekuk Chang said, “To counteract the problem of youth unemployment, DSU has made a strong effort to foster creative and technological businesses run by youths in this region. In particular, through the special entrepreneurship system and global network of Dongseo University, we support the startup and expansion of star global companies.”