Maker Movement
The Korea Creative Economy Research Network held an open forum on July 21 and proposed the promotion of the growth of hardware startups based on manufacturing technology for more venture success stories. Lee Min-hwa, head of the organization, suggested six key strategies to that end: public education for the maker movement; establishment of ecosystems for startup manufacturers; startup promotion utilizing hardware patents; innovation clusters connecting Yongsan, Guro, Hongdae, Sungsu, and Yeoksam; a culture of openness led by small firms; and convergence business foundation based on deregulation.
The term “Maker Movement” was coined by Dale Dougherty, a co-founder of O’Reilly Media, which is one of the largest IT publishers in the United States. It can be defined as a social trend in which people make what they need on their own by means of less expensive machine tools, 3D printers, and sharing manufacturing techniques.
“The U.S. government is seeing the maker movement as an opportunity for startup-based job creation and the promotion of entrepreneurship, and the Chinese government is also focusing on the growth of hardware startups for a shift from 'Made in China' toward 'Created in China,'” said Kang Heung-seo, director at the Korea Foundation for the Advancement of Science and Creativity. He added, “We need to follow the trend so that young manufacturers can make innovative attempts with a second chance ensured.”
Kim Sung-sup, who is in charge of venture business policy at the Small & Medium Business Administration (SMBA), mentioned that spaces for making based on crowd funding are the key to the promotion of hardware startups. He also said that Actner Lab, which is the hardware accelerator housed in the SMBA’s TIPS Town opened in Seoul last week, will be a reliable investment platform for hardware startups. “The SMBA will continue working hard so that a platform combining the manufacturing infrastructure available at the Creative Economy Innovation Centers with investment functions can fulfill its purposes,” he continued.