"Fostering 400 Non-Face-to-Face Startups"…600 Billion Won Invested by 12 Ministries

Asia Economy DB=Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] Twelve government ministries, including the Ministry of SMEs and Startups, are collaborating to promote a project to nurture promising startups in the non-face-to-face sector.

This project was newly established this year by the Ministry of SMEs and Startups to discover and foster promising non-face-to-face startup companies that will lead the post-COVID-19 era.

The initial budget was 30 billion KRW, but due to excellent employment creation effects, an additional supplementary budget of 30 billion KRW was allocated, making it a total of 60 billion KRW to support 400 companies.

The project is conducted by each ministry selecting startup companies in their respective fields and jointly supporting policies with the Ministry of SMEs and Startups. The plan is to maximize support effectiveness by linking the expertise each ministry has in various non-face-to-face sectors.

For example, the Ministry of Health and Welfare will discover promising startups related to non-face-to-face medical fields such as diagnostic kits, remote equipment, and infectious disease treatments, providing specialized programs focusing on clinical and regulatory consulting.

The Ministry of Education will discover startups related to online education content and platforms utilizing key non-face-to-face technologies such as Augmented Reality (AR), Virtual Reality (VR), public big data, and Artificial Intelligence (AI). They plan to provide testbeds that can be pre-applied in domestic and international educational settings and offer consulting support.

The Ministry of Culture, Sports and Tourism will discover startups related to non-face-to-face sports fields such as ultra-realistic sports broadcasting services, home training smart exercise devices, and AI sports coaching services, supporting customized programs including technical mentoring, seminar operation, and on-site pilot applications.

Prospective entrepreneurs and startup representatives wishing to participate in the project can apply online through the K-Startup website from 2 p.m. on the 8th to 6 p.m. on the 27th. Afterwards, the respective organizing institutions will select the final supported companies through document and presentation evaluations.

The project briefing session will be held online on the 13th via the Korea Institute of Startup & Entrepreneurship Development’s YouTube channel. For more details, please check the K-Startup announcement or contact the integrated call center.

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