Mongolia-S.Korean joint startup business promotion center to be founded

2020-08-04 14:11:52

Ulaanbaatar /MONTSAME/ The corresponding Government Agency of the Republic of Korea has sent an official statement to the Municipality of Ulaanbaatar city that a project on establishment of Mongolia-.Korean Startup Business Promotion Center was selected. 

More specifically, a memorandum of cooperation on establishment of joint business promotion center was established between the Governor’s Office of the Capital City, Science, Manufacturing and Innovation Department of the Capital City and Young Entrepreneurs Council and Korea Institute of Startup and Entrepreneurship Development at the Ministry of SMEs and Startups on March 17, 2020.

The center was resolved to be founded in B block of New Yarmag sub center, covering 1000 sq.m to develop high tech and innovative production and services. With the establishment of Mongolia-S.Korean Startup Business Promotion Center, following works are planned to be carried out.

-To develop a joint specialized experts’ team within the framework of disseminating start-up promotion knowledge and domesticating relevant education program in Mongolia

-To exchange best practices, develop innovative products, increase its circulating assets and expand cooperation between startups within the goal to improve business environment and connect business people of the two countries.

As a result, it is expected that healthy ecosystem for startup business will be created in Mongolia alongside with friendly legal environment in addition to ensuring implementation of some of the United Nations Sustainable Development Goals and Mongolia’s long-term development policy.