Call for 10 Companies to Operate In-House Venture Development Programs

[Asia Economy Reporter Moon Hyewon] The Ministry of SMEs and Startups announced on the 27th that it is recruiting 10 companies to operate an in-house venture nurturing program that will collaboratively solve mutual cooperation tasks with startup companies.

The recruitment of operating companies moves away from the existing concept of in-house ventures that collaborated only with internal resources, and from next year, it will expand into the ‘Daestar Solver Platform’ that collaborates with external startups, playing a role in creating a win-win cooperation ecosystem between large corporations and startups.

If selected as an operating company, after being evaluated by in-house venture teams (companies) that they have discovered and nurtured themselves, they will receive up to 100 million KRW in startup commercialization funds. From next year, they will also be given the opportunity to participate in the ‘Daestar Solver Platform,’ where they can propose tasks necessary for innovative growth and collaborate with external startups.

The Daestar Solver Platform is a new concept of win-win cooperation policy that connects large corporations and startups to propose and solve mutual cooperation tasks and find the optimal collaboration partners.

The in-house venture nurturing program was established in 2018 and has discovered and supported a total of 394 in-house ventures through 88 operating companies (17 large corporations, 13 mid-sized companies, 42 small and medium enterprises, and 16 public enterprises) to date.

Any large, mid-sized, or small and medium enterprises, or public enterprises with a strong willingness and capability for discovering and supporting in-house ventures and collaborating with startups (including internal regulations, support departments, dedicated personnel, matching funds, etc.) can participate.

Detailed information regarding the recruitment of operating companies can be found on the Ministry of SMEs and Startups or K-Startup websites, and companies wishing to participate can apply online through the K-Startup website.

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