South Korean ICT Ministry and Starbucks to Open ‘Startup Café’
John Kim, Nov. 17, 2015, 9:26 a.m.
The South Korean arm of the world-famous coffee chain Starbucks and the country's ICT ministry said Tuesday they will launch what they call a "startup cafe," where visitors can share experiences and ideas on starting a new company.
Starbucks and the Ministry of Science, ICT and Future Planning said they will host venture-related programs, including lectures at one of its stores in central Seoul, in their latest effort to beef up local startups.
The ministry said around 46,000 startups kicked off in the first half of 2015 in South Korea, adding it is vital to establish an ecosystem where new companies can share their know-how and experiences to keep the trend sustainable.
The accessibility and openness of cafes are suitable places for startups to gather, the ministry added. Starbucks will provide the venue, as well as drinks and food, for participants. It also plans to roll out joint programs, such as a tumbler design competition. The Starbucks-supported startup cafes will expand to areas outside Seoul staring next year.