Go, small business owners!
The first piece of content I’d like to introduce is #Local.
Wadizis the operating agency for the government's small business crowdfunding program. It supports small businesses in successfully entering the market and achieving sustainable operations.
To date, we have provided support for a total of four initiatives, including the “Our Neighborhood Crowdfunding Support Project” run by the Ministry of SMEs and Startups and the Small Business and Market Service. More than 600 small business crowdfunding projects have been carried out so far. Thanks to investments from 120,000 private investors, these projects have generated a cumulative total of over 8.2 billion won.
For example, in 2023 Introducing the 2023*
* Wadiz“Our Neighborhood Crowdfunding Support Program” Period: April 2023–March 2024
Our Neighborhood Crowdfunding Support Program
We are providing funding for online content creation and advertising and marketing costs to help approximately 300 small business owners successfully raise funds through crowdfunding. Wadizhandles the recruitment and selection of small business owners and provides content creation for their crowdfunding projects, while the government covers funding costs, fees, and incentives for top-performing businesses.
Here are a few inspiring stories of small business owners taking on new challenges in 2023.
#1 “Let’s Filter Even Bottled Water” Bottled Water Filter
According to the New York State Department of Statistics, the number one source of microplastic intake is the “bottled water” we drink every day. Amid growing concerns about microplastics, one product has garnered significant attention: the “bottled water filter” developed by Real Water Co., Ltd.
This is a filter product that removes microplastics—simply open the cap of your water bottle and snap it on. Each filter is said to last for two months. The manufacturer, "Real Water," has received a patent for this water filter.
메이커는 <생수 미세플라스틱 검출> 뉴스를 접한 뒤 ‘평상시 먹는 것들이 쌓여 내 몸을 만든다’는 생각으로 제품을 개발했어요. 생수 필터로만 약 4천5백여 명의 펀딩 참여를 끌어내 누적 2억 원이 넘는 펀딩액을 달성했습니다.
#2 ‘Jeju Perfect Barley’ made from Jeju barley grown in pristine Jeju
“Jeju Perfect Barley Shake,” a meal replacement shake made from Jeju barley, has raised approximately 42 million won with the support of 754 backers. With a product satisfaction rating of 5 out of 5, it has successfully been listed onWadiz,” which exclusively features successfully funded products.
They say they focused on product development to meet the need for “satiety” identified through consumer surveys. They discovered that the dietary fiber found in Jeju barley is not only easy to digest but also the primary factor in creating a physical feeling of fullness. They added “chewy toppings” to enhance both enjoyment and satiety, thereby increasing overall satisfaction.
There was a special secret behind the source of the product’s main ingredient, “Jeju barley.” They reportedly obtained the pure Jeju barley through a collaboration with “Sehwa Milling,” a master barley miller with over 40 years of experience.
Fitple Co., Ltd., the manufacturer, was able to achieve strong results through its development story and authenticity, which centered on the use of local ingredients.
#3 "AquaWave": Transforming leftovers into moist, freshly made dishes
What if there were a cooking tool that could make pizza, sweet potatoes, fried rice, frozen foods, and more taste as fresh as if they were just made? The maker Longtail Company has developed a microwave-safe container.
It may look like an ordinary plate, but it’s a remarkable container. Designed specifically for use in the microwave, this silicone dish features a hole for adding water to keep food moist and tender while reheating.
How did they come to develop this product? Jeon Won, CEO of Longtail Company, was reportedly a “pizza enthusiast” who ordered pizza at least twice a week. His everyday musings led to the development of this product.
When I searched for “how to make leftover pizza taste good,” I discovered that if you place a small bowl of water in the microwave and heat it along with the pizza, it comes out moist and delicious. That’s what led me to create a dedicated container called “AquaWave.” With its simple and intuitive design, it has become hugely popular among college students living on their own and single-person households, who often reheat and eat frozen or stored foods.
When asked why Longtail Company chose to launch its product through a Wadiz pre-order campaign, the company replied, “BecauseWadiz supporters are always on the lookout for new and better ways to live, and they immediately recognize quality products.”
We got a glimpse into the ideas of small business owners whose everyday frustrations and concerns have led to the creation of new products that enhance the quality of life. Wadizplans to continue actively participating in initiatives that support the growth and provide more opportunities for small business owners who take on challenges with innovative ideas, in collaboration with the government and local authorities.
Last year, we also launched a dedicated team calledWadiz.” In addition to crowdfunding, we plan to expand our support for small business owners in various ways, including helping them secure distribution channels and providing offline experience spaces, so stay tuned!
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