The government will expand super-gap sectors such as artificial intelligence (AI) and space and aviation, select new super-gap startups, and nurture them into global giant startups (unicorns) through intensive support including funds for commercialization, R&D, and innovative growth (scale-up).

On the 20th, the Ministry of SMEs and Startups (Minister Oh Young-joo) held a 'New Super-Gap Startup Plaque Unveiling Ceremony and Meeting' at Contec Co., Ltd. (located in Daejeon), which was selected as a 2024 super-gap startup in the space and aviation sector, with about 20 people in attendance, including representatives of super-gap startups in artificial intelligence (AI), quantum technology, etc., and executives and staff from organizing institutions such as the Korea Aerospace Research Institute.

This event was organized to discuss ways to incorporate the voices from the field of new super-gap startups in five fields—including aerospace and marine, artificial intelligence (AI), and quantum technology—which were expanded this year among the top 10 super-gap fields such as system semiconductors, life (bio) and healthcare, into policy and to intensively foster them so that they can enter the global market.

In particular, to secure a leading position in the global space market, which has recently been expanding rapidly driven by the private sector, we have selected seven "super-gap" startups in the space and aviation sector for the first time, and together with the Korea Startup Promotion Agency, Key support organizations, including the lead agency Korea Aerospace Research Institute, pledged to provide focused support to space startups as a single team.

The 'DIPS 1000+ Project' is a joint public-private initiative that, over the five years from last year to 2027, selects more than 1,000 excellent deep tech startups in 10 new industrial sectors that will lead the future of the national economy and fosters global giant unicorns through intensive support.

Startups were recruited through various methods including open call, private verification, and ministry recommendations, and 217 final companies were selected following a rigorous and transparent evaluation by top-tier domestic and international evaluation committees and public evaluation panels, with a high competition rate of 13.1:1 (based on the open call method).

Newly selected startups can receive direct funding totaling 1.1 billion won over the next three years, including up to 600 million won in commercialization funds and up to 500 million won in R&D funds subject to a separate evaluation based on company demand, and can also receive linked support such as policy funds, guarantees, and exports.

In addition, specialized support tailored to the characteristics of each industry will be received from technology commercialization agencies in each new industry sector. In the space and aviation sector, support will be provided through the Korea Aerospace Research Institute for technology development utilizing equipment, promotion of commercialization, acquisition of international (global) licenses, joint participation in international aerospace exhibitions, and promotion (marketing).

Looking at the selected startups, researcher-founded startups accounted for 80.2% (174 companies) of the total selections, as the selection is based on startups possessing advanced technological capabilities. With an average cumulative investment of 8.9 billion won up to 2023 and an average investment of 1.8 billion won in 2023, it was found that excellent startups with verified technological capabilities in the private sector were selected.

In addition, existing Among the startups that received support from the Innovation Sector Startup Package program for three years starting in 2020, 15 startups with excellent global technological performance, sales, employment, and investment performance were selected through a separate evaluation, and four of these companies achieved remarkable results, such as growing through the support program and listing on KOSDAQ.

Outstanding startups selected for follow-up support will receive follow-up funding of up to 1 billion KRW for global innovation growth (scale-up) over the next two years.

For startups receiving follow-up support, the average cumulative sales over the past three years were 8 billion won, the average number of employees was 95, and the average cumulative investment attracted was 16.5 billion won, indicating a high likelihood of growing into unicorn companies through future scale-up support.