Stony Brook University SUNY Korea

World Bank Group and SUNY Korea will host a five-week training program for entrepreneurs from 12 countries to leverage ICT solutions to drive innovation and entrepreneurship. This program (ETHOS: Entrepreneurial Talents’ House of Opportunities and Supports) begins on April 19th to foster and empower talented entrepreneurs through digital skill support and entrepreneurship training. This is the fourth edition of the program since its first inception in 2015, funded by the Korea World Bank Partnership Facility (KWPF).

To help the ICT start-ups strengthen their businesses in the COVID-19 era, the ETHOS program this year will be operated virtually to selected participants from 12 countries: Algeria, Cambodia, Cameroon, Côte d'Ivoire, Ethiopia, Georgia, Lao PDR, Lebanon, Rwanda, Tunisia, Viet Nam, and West Bank and Gaza. The program entails a knowledge series, mentoring, tech partnership, networking, and pitching sessions to boost entrepreneurial aspects of participants. Selected participants will take customized business mentoring sessions, have opportunities to partner with Korean deep-tech startups to establish joint-ventures, and get investment opportunities.

Selected participants will develop their business models more competitively and revise their pitch decks more attractively during 8-hour intensive mentoring sessions addressed by skillful mentors from CNT Tech, Born2Global Centre, D3, and NH Investment & Securities. Born2Global Centre is actively supporting the program by matching them with tech partners in Korea and providing joint-venture establishment opportunities. With tech partnership sessions, the program will be a channel for Korean deep-tech start-ups to expand their business to the globe and for the selected participants to integrate Korean advanced technologies into their business models.

Wonki Min, the President of SUNY Korea, emphasized the true meaning of entrepreneurship in the type of society which the ETHOS program actively pursues.

“As SUNY Korea’s mission is nurturing creative leaders standing up to global challenges, we are more than delighted to host the ETHOS program. Starting up a business is not only the key to economic development but also essential to the social and cultural advancement of human society. Therefore, ETHOS is committed to providing entrepreneurs with opportunities to build essential capacities to become successful.”

Samia Melhem and Je Myung Ryu, Task Team Leaders from World Bank Group, made clear the role of ICTs in the COVID-19 pandemic situation.

“Today, we are living in an extraordinary and unprecedented time, heading into a fast-changing future. The COVID-19 pandemic has suddenly accelerated digital transformation to the forefront across almost all sectors and brought new demands for disruptive technology solutions to better respond to the urgent medical, social, and economic needs. We have seen abrupt changes in consumer behavior in this digital economy as well. For both startups and businesses, the ability to leverage digital skills and online platforms has become a critical element to meet the consumer needs in a pandemic.”

Hoon Sahib Soh, Special Representative of World Bank Group Korea Office, expressed high expectations toward the ETHOS program.

“The WBG Korea Office is actively supporting SUNY Korea on the ETHOS II program. The Korea Office is a global innovation and technology center for sustainable development.  I believe supporting programs such as ETHOS will be an integral part of our innovation and technology program”.

The successful execution of the ETHOS program will enhance the reputation of Korea as a leader of ICT entrepreneurship, as well as demonstrate Korean economic development based on ICT businesses.

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