The Ministry of Science and ICT is launching a new ICT GROWTH project.
A total of 50 companies will be selected and supported by 2025.
Applications will be accepted from the National IT Industry Promotion Agency website starting on the 17th.


A new program will be established to support promising small and medium-sized venture companies in the ICT sector to become unicorns.

The Ministry of Science and ICT announced on the 13th that it signed a business agreement with four organizations, including the Korea Credit Guarantee Fund (KODIT), the Korea Telecommunications Operators Association (KTOA), Seoul Guarantee Insurance (SGI), and Born2Global Center, to promote the 'Global ICT Future Unicorn Fostering (ICT GROWTH)' program.

▲ On the afternoon of the 13th, the Ministry of Science and ICT held a 'Business Agreement Ceremony for Fostering Global ICT Future Unicorns' at the Small and Medium Business DMC Tower in Mapo-gu, Seoul. (From left) Kim Sang-taek, CEO of Seoul Guarantee Insurance; Yoon Dae-hee, Chairman of the Korea Credit Guarantee Fund; Jang Seok-young, Second Vice Minister of Science and ICT; Jeong Wan-yong, Vice Chairman of the Korea Telecommunications Operators Association; and Kim Jong-gap, Director of the Born2Global Center (Photo = Ministry of Science and ICT)

The ICT GROWTH program aims to create an ecosystem and support system that can foster high-growth ICT companies by combining government and private resources. Starting this year, approximately 15 companies will be selected each year, and a total of 50 companies will be selected and supported by 2025.

Selected companies will be provided with a comprehensive package of financial guarantees, support for entering global markets, and performance guarantee insurance for up to three years, and will be supported in attracting investment during this period.

Applicants are: ▲ companies that have received investments of more than 2 billion won from domestic and foreign institutional investors in the past three years since their establishment, or ▲ companies that have seen an average annual increase of 10% or more in sales over the past three years.

The selection process begins with the National IT Industry Promotion Agency (NIPA), under the Ministry of Science and ICT, forming a selection committee to evaluate applicants based on their core technology, marketability, growth potential, and global capabilities. KODIT then determines the level of support and the extent of the guarantee, and then selects the companies to be supported.

The main support provided by each organization to the selected companies is as follows.

KODIT will establish a dedicated team for the program and, after screening, provide growth funding of up to KRW 10 billion (including facility funds and up to KRW 5 billion in operating capital) to each selected company. The guarantee conditions are a 100% guarantee ratio and a 0.5% guarantee fee. Additionally, we plan to select investment targets from among the selected companies and provide guaranteed investments of up to 3 billion won.

KTOA plans to establish a high-growth ICT investment fund utilizing the Korea IT Fund (KIF) and actively support priority screening for investment linkages for selected companies. Seoul Guarantee Insurance will support expansion of performance bond guarantee limits, premium discounts, and free provision of credit management services for small and medium-sized enterprises.

The Born2Global Center operates an "Overseas Expansion Intensive Growth Camp" to support domestic incubation and market viability verification for selected companies seeking to expand globally. NIPA also plans to utilize KIC's Silicon Valley (USA) and New Southern Region Overseas IT Support Centers (Singapore and Vietnam) to run a three-month specialized program focused on local client discovery, investment attraction, and localization support.

Applications for business can be submitted from the NIPA website starting on the 17th.