In a compelling session of the 332nd temporary meeting of the Planning and Economic Committee, Gu Mi-kyung, a member of the Seoul City Council representing the People Power Party from the Seongdong District, raised critical concerns regarding the evaluation metrics of the Campus Town initiative. On the 2nd of this month, during a briefing from the Economic Office, she highlighted that the current assessment framework primarily focuses on the survival rates of startups without distinguishing between those established on campus and those located off-campus. This simplistic approach, she argues, undermines the initiative’s intent and fails to account for the qualitative achievements of these enterprises, such as revenue growth, job creation, and investment attraction.
The Campus Town initiative aims to foster the growth of entrepreneurial ventures, particularly those spearheaded by university students. Remarkably, the survival rate of these startups stands at over 96% for the first two years and 87% for the third year, which is commendable. However, Gu pointed out that these statistics are misleading as they do not differentiate between on-campus and off-campus startups. The implications of this lack of differentiation are significant; stakeholders cannot ascertain whether these survival rates translate into tangible economic contributions.
Gu Mi-kyung contended that evaluating on-campus student startups in the same manner as external startups ignores the fundamental differences in their nature and objectives. She urged the Economic Office to move beyond a narrow focus on survival rates and to develop a comprehensive evaluation system that incorporates broader metrics such as sales figures, employment generation, and investment levels.
“The core goal of the Campus Town initiative is to support university students in nurturing sustainable startups that can thrive beyond their academic environment,” she emphasized. Gu called for a more nuanced evaluation framework that distinguishes between on-campus ventures and off-campus entities, thus allowing for tailored performance indicators that reflect their unique challenges and successes.
As the discussion unfolded, Gu Mi-kyung reinforced the necessity of shifting from a purely quantitative evaluation model to one that balances sustainability with real-world achievements. She highlighted the importance of adapting performance evaluations to reflect the actual impact these startups have on the economy. By advocating for this change, Gu hopes to ensure that the Campus Town initiative not only supports the survival of startups but also contributes meaningfully to job creation and economic vitality in the region.
The recommendations posed by Gu Mi-kyung underscore the need for a strategic reevaluation of existing frameworks to ensure that they align with the evolving landscape of entrepreneurship. As the Seoul City Council considers these insights, there lies a crucial opportunity to enhance the Campus Town initiative, ensuring that it not only meets its objectives but also fosters a thriving entrepreneurial ecosystem that can sustain itself well into the future.
[관련기사] https://n.news.naver.com/mnews/article/081/0003571573?sid=102
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