Starbucks Korea to launch ‘Startup cafe’
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Starbucks Korea is to launch a ‘startup cafe,’ in partnership with the country’s government, to stimulate innovation.
The South Korean arm of the world-famous coffee chain Starbucks and the country’s ICT ministry said Tuesday the “startup cafe” will be a place 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 starting next year.
Questions & Answers
Q.What is the primary purpose of the 'startup cafe' initiative?
What is the primary purpose of the 'startup cafe' initiative?
The 'startup cafe' is intended to stimulate innovation by providing a venue where visitors can share experiences and ideas related to starting new companies. It aims to foster an ecosystem for local startups.
Q.Which government body is partnering with Starbucks Korea on this project?
Which government body is partnering with Starbucks Korea on this project?
Starbucks Korea is partnering with South Korea's Ministry of Science, ICT and Future Planning. This ministry will co-host venture-related programs and lectures as part of the initiative.
Q.What specific contributions will Starbucks make to the 'startup cafes'?
What specific contributions will Starbucks make to the 'startup cafes'?
Starbucks will provide the physical venue for the cafes, along with drinks and food for participants. They also plan to introduce joint programs, such as a tumbler design competition, for engagement.
Q.Will the 'startup cafe' concept be limited to Seoul?
Will the 'startup cafe' concept be limited to Seoul?
No, the Starbucks-supported startup cafes will initially launch in central Seoul. However, there are plans to expand the concept to areas outside of Seoul starting from next year.
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