The government will discover more than 1,000 promising startups in the top 10 sectors, such as artificial intelligence (AI), data, and quantum, for the next five years, and jointly invest 2 trillion won. It is to foster super gap startups that will lead the future of the national economy.
In order to support these companies, the Global Fund, which will introduce 110 billion won, will be expanded, and ‘Global Funds’, which will inflow overseas capital, will also expand from about 6.3 trillion won to the end of 8 trillion won by the end of 2023. It also provides specialized support with specialized institutions such as government appearances.
On the 3rd, Lee Young-mi, the Minister of Mid-Term, held a plan to announce the announcement of the high-tech future industry startup strategy at the Seoul Creative Economy Innovation Center. The meeting is the follow-up of the 11th Emergency Economic Council held on October 27. At the time, Lee Young-young announced the ‘Advanced Future Industrial Startup Strategy: Super Gap Startup 1,000+ Project’ and listened to the field opinion.
The main contents of the Super Gap Startup 1000+ Project are as follows.
▲ Selection of the Top 10 CHO Gap Section: Selected the top 10 areas that are likely to enter the global market in promising new industries. The top ten areas include △ system semiconductor △ bio and health △ future mobility △ eco-friendly and energy △ big data △ AI △ cybersecurity and network △ Space Airlines and Maritime △ next-generation nuclear power △ quantum technology.
We reviewed the technical levels, market prospects, and startups in the promising new industries selected by major domestic and foreign organizations such as new industries and national strategic technologies under the ‘Small and Medium Business Entrepreneurship Support Act’ comprehensive review. It was selected and selected widely, the midterm said.
▲ More than 1000 promising startup selection: Found more than 1000 promising startups for 5 years. The excavation method consists of three types of public recruitment, private and ministry recommendation, and private investment. The public recruitment type organizes the evaluation teams by the field gap to evaluate the technology and growth potential.
Technical evaluation is included in the subjects of technology expertise, and private investment agencies such as venture capital or entrepreneurship planners participate. Private and ministries are recommended by the large and mid-sized companies and the new industrial departments that are recommended for startups that recognize technology and growth. Private recommendation is a startup that is fostered by large and mid-sized companies for practical collaboration.
Private investment type selects companies that have been recognized for their growth potential in the private investment market. If private (Tips operators) invest more than 300 million won in startups, they will be selected in consideration of the recommended business performance and the possibility of global expansion among the recommended companies.
▲ Input of bold public and private joint funds of 2 trillion won over the 5 years: The selected candidate for the selected candidates will provide specialized support according to the selection method. First, the competition and recommendation type will support the technology commercialization funds up to 600 million won for three years after selecting the technology that can be advanced and connected by commercialization. In order to receive the maximum support, companies must play a leading role, such as making investment attraction. In addition, you can use the R & D program that supports up to 600 million won for up to two years.
Private investment type will support 1.5 billion won of R & D for up to three years after selection to support growth potential. In addition, the start-up commercialization and overseas marketing costs can be supported up to 100 million won. In the five-year-old start-up startup, the government will invest more than 2 trillion won, including the government’s technology commercialization and R & D funds and private response funds.
▲ Support for specialized institutions such as government appearances: In order to support the completion and commercialization of startups, the institutions with technical expertise are selected as the host organization. The organizer helps startup technology through technology transfer, joint research and consignment research, and supporting process. Furthermore, we can commercialize our products and services and enter the market.
The organizer must basically have the capacity related to R & D, such as professional manpower and research facilities, and prefer institutions that have the functions necessary for fostering startups such as a dedicated startup department or their own operating funds in the process of selecting the organizer.
▲ Scale and Globalization: The top core companies that have been attracting large-scale investment in the private investment market after basic support or signing a supply contract with global companies will provide separate follow-up commercialization funds. The selection size is about 20 companies per year, and selection companies can receive up to 1 billion won for commercialization funds to promote the global scale industry.
In addition, in order to promote private investment in promising new industries, the ‘Global Fund’ that will introduce overseas capital will be introduced from about 6.3 trillion won to 8 trillion won by the end of 23 years. It expands and supports full-scale scale-ups, such as preferring policy funds and guarantees for ultra-fast startups.
▲ Collaboration and linkage between departments: The various policies promoted by each department are also organically linked. Each ministry is recommended in consideration of the possibility of linking with the relevant support project when recommending a candidate for the super-gap, and the Small and Medium Venture Business Department identifies the demand for select companies, and the company’s r & D, human resources development, and infrastructure are operated along with core support means. Connect with the essential policies.
The super-gap startup is a new industry startup with unique technology that can enter the global market. The midterm department said, Our country has enough potential for ultra-gap startups. It has excellent technology in major new industries, and its investment in technology competitiveness and technology development is high. The share of technology start-ups is increasing significantly.
However, the number of unicorn companies, which is an important indicator of the start-up and venture ecosystem, as of the first half of 2022, there are 23 Korean unicorn companies, and there are only three dual technology-based companies, he said. Considering the situation in which major technology leaders such as Europe and China are focusing on securing technology and preoccupying the global market, we need a bold policy to foster advanced future industrial startups.
According to the midterm department, the super-start-up startup 1000+ project has two noticeable features. First, unlike the universal support of start-up support policies that have been universally supported in certain technologies and sectors, the core support means is boldly introduced to the top 10 high-tech future industrial startups that are essential for securing national competitiveness.
Second, the target of the start-up support policy has been a company for less than seven years, but it is also different from the existing policy that it has been included in the support for 10 years based on the ‘Small and Medium Business Entrepreneurship Support Act’, which was revised and implemented in 2022.
Lee Young-young said, It is a startup that leads the future of the national economy. I will let you.
