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An "Innovation Center" will be established to support Mongolian-Korean joint startups

With a grant from the Government of the Republic of Korea, the Office of the Capital Governor, the Korea Institute of Start-up Business and Entrepreneurship Development (KISED) under the Ministry of SMEs and Startups of the Republic of Korea have decided to establish an "Innovation Center" to support Mongolia-Korea joint startups.

The establishment of the "Innovation Center" is important for developing the Mongolian start-up business ecosystem, introducing innovative products and services produced by start-up entrepreneurs into economic circulation, increasing exports, training and empowering technological human resources, and exchanging mutual experience.

With the establishment of the said center, within three years, about 3,000 young start-up entrepreneurs will use the said center, and more than a thousand government employees and experts will receive capacity building and experience training, as well as 45 start-up businesses will be supported. In addition, elementary school students will develop startup and innovation learning materials for university students, as well as a curriculum to support startups.