Ministry of SMEs Partners with Microsoft to Foster Startups

[Asia Economy Reporter Moon Hyewon] The Ministry of SMEs and Startups announced on the 20th that it is recruiting companies to participate in the ‘Majung (MS Collaboration)’ program, which is being promoted in collaboration with Microsoft.

The Ministry of SMEs and Startups is expanding its global collaboration companies this year. The ‘Changgu’ program with Google (April) increased the number of participating startups from 60 to 80, and in May, NVIDIA (N&UP), and in July, Amazon Web Services (Jungle) joined as collaboration companies.

Microsoft utilizes its technology center to educate startups and provide consulting on growth strategies. It also connects startups with local venture capital (VC) in the United States to help them attract investment, and plans to increase the possibility of entering the global market by involving them in joint promotion programs linked to Microsoft’s domestic and international distribution networks.

The Majung program supports 30 companies within three years of establishment. For the selected startups, the Ministry of SMEs and Startups provides commercialization funds, and Microsoft offers startup incubation services using its infrastructure.

The application period is from the 21st to the 17th of next month. Startups wishing to participate can apply online through the K-Startup website.

The business briefing session will be held online via the YouTube channel on the 28th.

This content was produced with the assistance of AI translation services.