Partnership agreement on establishing the Social Venture Incubating Center among the Life Insurance Social Contribution Center, Kyobo Life Insurance and the Work Together Foundation
The Work Together Foundation, the Life Insurance Social Contribution Center and Kyobo life Insurance Co., Ltd. have made a partnership agreement to establish the Social Venture Incubating Center and its operations, commencing a social venture incubating and nourishing project together.
The center will be located on the 3rd floor of the Work Together Foundation building in Seoul. Ten to fifteen teams from social venture projects will be centered there each year. The selected teams will get support in diverse areas such as team building, business consulting, mentoring and so on in the interest of attaining their self-sustainability and growth. The Foundation has supported the Social Venture Competition and pilot programs to realize social venture ideas to promote social ventures in Korea since 2007. With this know-how, the Foundation will operate the Social Venture Incubating Center systemically and practically. There is already partial support for social ventures, but the opening of the Social Venture Incubating Center will raise the level of both interest and support.
Kyobo Life Insurance Co., Ltd. has supported the Kyobo Dasomi Foundation, which could be called the first social enterprise in care services, since 2004, and is now supporting the first Social Venture Incubating Center in Korea.
* What is 'Social Venture'? A social venture is an undertaking by a firm or organization established by a social entrepreneur that seeks to provide systemic solutions to achieve a sustainable, social objective. |
Edited by Patrick Ferraro