“Don’t be frustrated by failing once or twice. It simply means your chances of succeeding are better than before. In Silicon Valley, the average number of failures for start-ups is three times, and I was no exception for I also failed three times,” said Kim Do-hoon, a Senior in the Department of Electronic Engineering at Hanyang University(HYU) and a CEO of Cringe.

He founded ‘Cringe’, an advertisement company, in April 2015, which is an open market platform for advertisements. Once advertisers post campaign guidelines on Cringe, users can upload pictures or short videos accordingly. The user then posts photos or videos in the format of reviews and Product Placement Advertisement(PPL). This is normally done on Social Network Service(SNS). The campaign ends once they reach a certain number of likes or when the allocated time for the campaign is up. 

Financial issues need to be dealt with beforehand and knowledge about the area of business is crucial to succeed. “If you can explain your startup item and persuade people to support you, money will not be an issue. There are many contests at HYU Business Incubator Center that help students prepare for startups. I also received help from the Center,” said Kim to Hanyangians who might be giving up their start-up plans because of monetary difficulties.