Up to 15.5 billion won in support to 20 selected companies
Applications open April 6th, with final selections scheduled for September.


The Ministry of SMEs and Startups announced on the 6th that it will be launching the '100 Small and Medium Business Startups' project to discover and foster startups in the materials, parts, and equipment (SMB) sector.

This project focuses on discovering and nurturing innovative startups that are highly relevant to future new industries such as bio, AI, and renewable energy, and that can respond to the technological demands of 135 small and medium-sized enterprises already submitted by large corporations.

The 60 candidate companies selected through the first and second evaluations will receive approximately three months of training and mentoring from large corporations and the Creative Economy Innovation Center, and will then undergo a final pitching evaluation with a panel of experts and a national panel of judges to be selected as one of the '100 Small Business Startups.'

Applicants must be a prospective or startup company with less than 7 years of experience. They can apply by selecting one of the two tracks: ▲Technology tasks in demand from large corporations and ▲Autonomous tasks.

In addition to existing major material and component companies such as Hyundai Heavy Industries, Hyosung, POSCO, and Doosan, bio-industry startups such as L'Oréal, Green Cross, and Innisfree are also participating. (Prospective) entrepreneurs who fall under the 135 demand projects submitted by large corporations can apply for the demand technology project, while those who do not fall under the demand technology project can apply for the autonomous project.

The 20 finalists will receive up to 15.5 billion won in support, including 200 million won for business advancement, high-growth funding, and R&D. Companies not selected will also receive support through programs such as investment linkages with the Creative Economy Innovation Center.