Project Title

APEC Young Entrepreneurs Networking Program 

Project Year

2017   

Project Number

SME 10 2017A 

Project Session

Session 2   

Project Type

Standard 

Project Status

Project in Implementation   
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Project No.

SME 10 2017A 

Project Title

APEC Young Entrepreneurs Networking Program 

Project Status

Project in Implementation 

Publication (if any)

 

Fund Account

APEC Support Fund 

Sub-fund

ASF: Micro, Small and Medium Enterprises (MSME) 

Project Year

2017 

Project Session

Session 2 

APEC Funding

55,000 

Co-funding Amount

30,000 

Total Project Value

85,000 

Sponsoring Forum

Small and Medium Enterprises Working Group (SMEWG) 

Topics

Small and Medium Enterprises 

Committee

SOM Steering Committee on Economic and Technical Cooperation (SCE) 

Other Fora Involved

 

Other Non-APEC Stakeholders Involved

 

Proposing Economy(ies)

Korea 

Co-Sponsoring Economies

Australia; China; Hong Kong, China; Malaysia; Chinese Taipei; Thailand; Viet Nam 

Expected Start Date

01/05/2018 

Expected Completion Date

31/05/2018 

Project Proponent Name 1

Chun Byung-Woo 

Job Title 1

Director 

Organization 1

Small and Medium Business Corporation (SBC) 

Postal Address 1

430 Dongjin-ro, Jinju-si, Gyeongsangnam-do, Republic of Korea 

Telephone 1

82-55 7519674 

Fax 1

Not Applicable 

Email 1

youna@sbc.or.kr 

Project Proponent Name 2

Not Applicable 

Job Title 2

Not Applicable 

Organization 2

Not Applicable 

Postal Address 2

Not Applicable 

Telephone 2

Not Applicable 

Fax 2

Not Applicable 

Email 2

Not Applicable 

Declaration

Chun Byung-Woo 

Project Summary

With the global economy experiencing low growth, governments around the world are putting an enormous emphasis on the promotion of startups and pushing ahead with a variety of support measures in order to create jobs and solve problems related to high unemployment.

In particular, startups by young people are usually technology or knowledge-intensive businesses. Knowing this, APEC member economies are making a lot of efforts to put in place measures to support young entrepreneurs and to nurture them into successful businessmen and women. 

This project aims to enhance globalization-related capabilities of young entrepreneurs from APEC member economies. To this end, we plan to invite young business owners and government officials from member economies so that young entrepreneurs can share their success stories and business knowhow as well as network each other, helping them come up with new ideas for their business, and government officials can learn from startup support measures implemented by other economies.

Relevance

With the global economy experiencing low growth, governments around the world are putting an enormous emphasis on the promotion of startups and pushing ahead with a variety of support measures in order to create jobs and solve problems related to high unemployment.

In particular, unlike startups created by retirees, who are often intended to eke out a living, startups by young people are usually technology or knowledge-intensive businesses, which can serve as a new driving force behind the economic growth and enhance the competitiveness of an overall industry.

Realizing this, APEC member economies are making a lot of efforts to put in place measures to support young entrepreneurs and to nurture theminto successful businessmen and women.

This project aims to enhance globalization-related capabilities of young entrepreneurs from APEC member economies. To this end, we plan to invite young business owners from member economies to provide a place where they can share their success stories and business knowhow as well as network each other, helping them come up with new ideas for their business. 

This project falls under one Rank 1 APEC Funding Criteria:

Human development, including implementation of the Strategic Plan on Capacity Building to Promote the Trade and Investment Agenda, cooperation on education, skills development, science and technology and capacity building, alignment of education and training to the regional labor market needs and youth employment: 

This project also falls under one Rank 2 APEC Funding Criteria: 

Inclusive Growth (Issues related to reducing economic disparities among APEC economies and to help members to participate in the regional trade and investment liberalization opportunities).

Objectives

1) To enhance young entrepreneurs’ capability to compete on the global stage through sharing success stories and knowhow of other entrepreneurs, and networking opportunities with other young people from APEC economies; and

2) To share startup support measures implemented by APEC member economies and to provide an opportunity to benchmark  programs or measures of APEC member economies to support young entrepreneurs in the APEC Young Entrepreneurs Networking Program.

Alignment

Alignment - APEC: This project is in line with 2016 APEC Leaders’ Declaration, “Given that full and productive employment for all population groups is essential for human development in the region, we also recognize that the economic empowerment of women, youth and persons with disabilities should be a priority under the APEC agenda for enhancing quality growth and human development. 

Alignment – Forum: This initiative is aligned with the first priority area (Entrepreneurship, innovation, and the internet and digital economy) of SME Working Group Strategic Plan 2017-2020 – “Promote an entrepreneurial culture amongst the youth, women and other individuals” as well as “Foster innovation in SMEs to strengthen business competitiveness”.

TILF/ASF Justification

It is widely known that if a developing economy wants to make progress, it must educate its men and women and give them more equality in jobs and economic opportunities. Empowering young people in developing economies is critical to overcoming poverty and growing prosperity. Therefore, this forum, which is aimed at helping young people get ahead at work and in the business community, will contribute to the capacity building needs of developing economies in the APEC region. And the representatives from developing economies will be engaged by participating in this forum where they are expected to listen to success stories, share best practices, and meet with successful young entrepreneur business leaders.

Beneficiaries and Outputs

Outputs: Since the project is a three-day event, the most immediate output is hosting of the APEC Young Entrepreneurs Networking Program. For start-up entrepreneurs from around the world are invited to share their experiences and success know-how. The  program is expected to minimize risk factors and maximize their chance of success. And entrepreneurs will be able to from all industry sector networks to lay a foundation for cooperation. In addition, it will have several immediate outputs expected during the forum, which include the following: 

1) On-site survey: During the event the on-site survey will be conducted to ask whether the event is successful and to listen to participants’ opinions. It will be a great help to make a better program in the future. 

2) Sharing best practices: Speakers of the program are expected to share best practices on their success stories and business knowhow as well as network each other, helping them come up with new ideas for their business. And it will be a good opportunity to enhance young entrepreneurs’ capability to compete on the global stage.

3) Policy recommendations on promotion of start-ups: Through a series of presentations and discussions, the program is expected to offer valuable policy recommendations for policy makers from APEC economies, and those recommendations will be disseminated electronically after the event. 

4) Opportunity to network and to benchmark: The event provides an excellent opportunity for participants to network with successful young entrepreneur business leaders from APEC economies taking part in the event who might be able to offer valuable advice and tips on how to become a successful business leader and also it will provide a chance to share startup support measures implemented by their own economies to benchmark each other.

In addition, all outputs listed in the proposal will be accounted and included in the final completion report which will be submitted within two months after the project is completed.

Outcomes: The expected outcomes of this project are as follows: 

This project will build the capacity of and engage APEC developing economy members. In addition, this project will support the development of human capital and/or entrepreneurial capacity among APEC member economies. Based on the workshop and discussions during the forum, the project aspires to enhance participants’ knowledge and skills in improving their businesses.

1) Increased awareness of the need and importance of start-ups and entrepreneurship in the business field;

2) Motivate young people and entrepreneurs to perform better at work by providing them with specific goals and policies for success; and

3) Promotion and development of young entrepreneurs by sharing best practices providing policies about start-up promotion and relevant programs such as youth startup academy which is operated and managed by Small and medium Business Corporation in Republic of Korea. 

The knowledge and experiences gained as well as networking made during the seminar will help government officials to further fine tune their SME and entrepreneurship policies and programs in order to assist and young entrepreneurs in their home economies.

Beneficiaries: The beneficiaries are young entrepreneurs and young entrepreneurs starting a new business start-ups from developing economies as well as government officials from member economies because the APEC Young Entrepreneurs Networking Program will act as a platform to network with relevant business people and organizations as well as share ideas to leverage on their skills, expertise and technical knowledge. 

- Young entrepreneurs and young entrepreneurs starting new business start-up: Offer young entrepreneurs opportunities to network with startup owners from other member economies and enhance their capability to become a successful entrepreneur by sharing success stories and business knowhow. The target young entrepreneurs would be under 39 years of age and a person preparing to start a business and CEO of a company with less than 3 years of history. All industries and APEC economies will be possible to attend the program. The standard of the targeted young entrepreneurs is based on the entering qualification of the Youth Startup Academy, which is managed and operated by Small and medium Business Corporation. But in order to ensure the success of the program it could be changed when actually we execute the event. Expected number of young entrepreneurs will be maximum 17 people due to budget limitations; and

- Government officials from member economies: Normally government establishes and implements all the policies on every issue in their economies. In this regard, if a government official from an organization or department dealing with matters about SMEs and start-up would be participated in the program, it also would be a good chance to every participant to get to know useful information by sharing startup support measures implemented by member economies, the program offers young entrepreneurs and government officials from member economies excellent opportunities to benchmark other economies.

Dissemination

All relevant materials relating to the outcomes of this project will be provided to the SMEWG focal points and other main stakeholders of the APEC member economies in electronic format. Possible types of documents would be covering capability enhancement training, global training, and customized training for companies, CEO training, and E-learning training which are training programs in the Youth Start-up Academy. In addition, the news about the program will be reported by local Korean newspapers, and also be posted on APEC SME Innovation Center’s website at www.apec-smeic.org. Also, specific results about the program will be circulated among SMEWG electronically through a completion report. Lastly, the result will be also reported at SMEWG meeting scheduled in the first half of 2018. There is no intention to sell any outputs related to this project. 

The measurable indicators of this program are as follows:

-   Approximately 17 people from various sectors attending the APEC Young Entrepreneurs Networking Program we would like to invite more within the budget limitation and other domestic participants would be 50 people

-  At least 2~3 APEC government officials participating in the program to support the young entrepreneurs

-  A well-developed  final completion report, which is comprised of the key outcomes of the programs and policy recommendations, to be disseminated to all APEC member economies and the completion report will be submitted within two months after the project completes;

In addition, the key outcomes of this project are expected to be presented at the related APEC for and others.

Gender

This project will include participation of women, including experts in various fields and women business owners. The organizer will coordinate with other economies and chamber of commerce or associations of women entrepreneurs in each economy, in order to ensure women representatives’ participation in the event. In addition, the organizer will try to include as many women entrepreneurs as possible in the speakers list so that they can share their experiences and problems in the forum.

Moreover, this project is directly related to the young entrepreneurs, ultimately aiming to nurture successful young entrepreneurs especially female entrepreneurs. The project overseer will make sure that women will also get the equal opportunity to participate in the forum. After this project is finally approved, the PO will contact PPWE to discuss development and promotion of the project. To be more specific, the PO will consider inviting PPWE members from travel-eligible economies as participants, or inviting PPWE members as speakers.

Due to the nature of the forum, gender criteria will definitely be applied to all the topics of the forum. This project will address the priority area of “Entrepreneurship, innovation, and the internet and digital economy” to “promote and entrepreneurial culture amongst the youth, women and other individuals” in the 2017-2020 SME Working Group Strategic Plan.

Work Plan

Time

Activities

Deliverables

December 2017

Establish specific programs and work plan

Member of Global Cooperation Department in SBC will conduct and start to make detailed agenda

December 2017–

February 2018

Recruit young entrepreneurs and  government officials in charge of  promotion of entrepreneurship from member economies

Participants and speaker list will be started to be made

February – April 2018

Prepare to invite participants and recruit participating organizations

Completion of participants list

And presentation materials

May 2018

Conduct the Young Entrepreneurs Networking Program

Day 1: Seminar and presentation of venture entrepreneurs

Day 2: Seminar and presentation of venture entrepreneurs

Visiting Korean venture companies, Youth Start-up Academy and conducting the program

Day 3: Seminar and presentation of venture entrepreneurs

Visiting Korean venture companies and closing

Conducting and executing of the program

June 2018

A project evaluation report submitted to the APEC Secretariat

Final report (submitted to APEC Secretariat)

Risks

Risk

Management Strategy

Low engagement

Low participation rate from APEC economies due to lack of interest and understanding in the start-ups. Although the start-ups has been discussed widely, but without proper outreach, some member economies may not initially be interested in participating in the project activities.

Participants

To get a good mix of participants, consisting of public officials, private sectors and young entrepreneurs by leveraging on ABAC (APEC Business Advisory Council), and chambers of commerce in respective economies and foreign missions in the Republic of Korea

Recruiting appropriate speakers 

Through internal discussions, the PO and his team are planning to contact appropriate speakers fitting the theme of the forum. The PO and his team are also going to ask SMEWG representatives of member economies to recommend speakers.

Logistics and facilities

Restricted selection based on capacity and budget might be a problem but it can be managed and solved through early reservation and planning

Monitoring and Evaluation

As stated above, the measureable indicators of this program include: (1) Approximately 17 people from APEC member economies and about 50 other domestic participants are expected to be attended to the program (40 percent of the participants will be women); (2) At least 2~3 APEC government officials participating in the program; (3) A well-developed final completion report comprising of the program outcomes and policy recommendations of the APEC Young Entrepreneurs Networking Program to be disseminated to all APEC member economies and the completed report will be submitted within two months after the project completes. 

The project team will prepare an evaluation form and conduct an on-site survey during the event to ask whether the event was successful and to listen to participants’ opinions. And the opinions as well as the on-site survey results will be included in the final report. Also the report will be submitted within two months after the program is finished.

Linkages

This project does not involve non-APEC stakeholders as it plans to invite young entrepreneurs and government officials from member economies.

APEC is the best source of funds for this project because entrepreneurship, innovation and the internet and digital economy including start-ups have always been important issues in the Asia-Pacific region to facilitate growth and promote innovation, and through this project, we aim to raise awareness of the importance of empowering and nurturing capable young entrepreneurs.

Regarding this forum, the PO is going to engage with “Youth Startup Academy”, which is owned and operated by Small and medium Business Corporation in Republic of Korea and it will serve as a co-host of the project. The Youth Startup Academy is one of the Korea’s largest youth entrepreneurship training institutions and the academy discovers youth startup entrepreneurs having superb startup items to nurture them as young and innovative CEO by supporting overall startup process from planning to commercialization Youth Startup Academy is expected to promote the event to as many young entrepreneurs as possible.

There have been previous APEC projects relating to the young entrepreneurs. However, hosting a forum focused on networking of young entrepreneurs in the business sector can be repeated regularly since it’s not a research project focused on certain subject, but a forum designed to draw attention to a general idea.

Sustainability

Entrepreneur development is part of SME development and entrepreneurship is also related to the development of human resources, particularly to facilitate self-employment. The APEC Young Entrepreneurs Networking Program will play a role as one of the platforms for promoting human resources and entrepreneurship agenda envisioned by Leaders’ under the APEC Growth Strategy. It will act as a stepping stone to develop and nurture entrepreneurial culture and spirit among potential and young entrepreneurs.  This will help to bring them into the business mainstream as well as address needs for further capacity building for entrepreneurs in APEC economies. It will also help economies to formulate right policies to promote and encourage entrepreneurship in economies.

Since the project is held for an important goal of helping nurture and connects young entrepreneurs, the project team is planning to hold similar events regularly, instead of making it a one-time event, to continue to draw attention to this issue and raise awareness of the need and importance of influence of young entrepreneurs among APEC member economies.

To sustain the impact of the project, nurture and bring together young entrepreneurs and create startup-friendly business environment on the APEC level, the PO suggests the APEC to take initiative and encourage member economies to hold similar program regularly. As for the budget of the  program, each economy may use self-funding to help nurture their young entrepreneurs. SMEWG can support this effort by encouraging its member economies to pay attention and actively participate in the event. In addition, the participants can report their success in a timeline such as 1 year, 3 years and 5 years as a next course of action after the program has been done.

Project Overseers

Chun Byung-Woo

Title: Director

Tel: +82-55-751-9670

Fax: +82-55-751-9699

E-mail: youna@sbc.or.kr

Organization: Small & medium Business Corporation (SBC)

Postal address: 430 Dongjin-ro, Jinju-si, Gyeongsangnam-do, Republic of Korea

 Mr.   Chun, Byung-Woo is a head of Global Cooperation Department of Small & Medium Business Corporation (SBC).

The   Small & medium Business Corporation (SBC) is a non-profit, government-funded organization established to implement government policies and programs for the     sound growth and development of Korean SMEs.

Cost Efficiency

Not Applicable.

Drawdown Timetable

Not Applicable.

Direct Labour

Not Applicable.

Waivers

As per the program schedule mentioned above, the program should be held for three days.

In Day 1, Day 2 and Day 3 there will be seminars and presentations. And then, all the participants will visit Korean venture companies, government organizations to share experience and to learn new opportunities. Therefore, this is not field trips for entertaining but a precious visiting based on technology learning and insights sharing.

Are there any supporting document attached?

No 
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Version HistoryVersion History

Project No.

Project Title

Project Status

Publication (if any)

Fund Account

Sub-fund

Project Year

Project Session

APEC Funding

Co-funding Amount

Total Project Value

Sponsoring Forum

Topics

Committee

Other Fora Involved

Other Non-APEC Stakeholders Involved

Proposing Economy(ies)

Co-Sponsoring Economies

Expected Start Date

Expected Completion Date

Project Proponent Name 1

Job Title 1

Organization 1

Postal Address 1

Telephone 1

Fax 1

Email 1

Project Proponent Name 2

Job Title 2

Organization 2

Postal Address 2

Telephone 2

Fax 2

Email 2

Declaration

Project Summary

Relevance

Objectives

Alignment

TILF/ASF Justification

Beneficiaries and Outputs

Dissemination

Gender

Work Plan

Risks

Monitoring and Evaluation

Linkages

Sustainability

Project Overseers

Cost Efficiency

Drawdown Timetable

Direct Labour

Waivers

Are there any supporting document attached?

hdFldAdmin

Project Number

Previous Fora

Secretariat Comments

Reprogramming Notes

Consolidated QAF

Endorsement By Fora

PD Sign Off

Batch

Forum Priority

Committee Ranking Category

Committee Priority

PDM Priority

Priority Within Funding Category

Monitoring Report Received

Completion Report Received

PMU Field 1

PMU Field 2

PMU Field 3

On Behalf Of

Proposal Status

Originating Sub-Forum

Approval Status
Attachments
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