Korea Microsoft Supports Domestic Startup Growth... Up to 500 Million KRW Funding

[Asia Economy Reporter Seungjin Lee] Microsoft Korea is stepping up to support startup growth. Microsoft Korea officially launched the 'Microsoft Launcher' on the 29th. Microsoft Launcher provides technical and financial benefits for startup growth, and any startup focused on developing software-based products or services with ideas can apply, regardless of the founder's background, location, or progress stage.

Earlier this year, Microsoft established the 'Microsoft Startup Founders Hub' based on real feedback from thousands of founders worldwide to create and maintain a healthy ecosystem where startups can thrive. Microsoft Launcher adds benefits tailored to the Korean context.

Microsoft Launcher offers benefits worth up to 500 million KRW to individual startups, including Azure credits, licenses, and technical support. Credits are distributed differentially up to 200 million KRW (approximately 150,000 USD) according to stages such as idea, development, product launch and customer acquisition, and market expansion. Developer and business tools such as GitHub, Visual Studio, Microsoft 365, Power Platform, and Dynamics 365 are also provided free of charge for one year.

There is also an opportunity to utilize the natural language processing model OpenAI GPT-3 in building new products. Selected startups through a separate application process will receive OpenAI credits worth 1,300,000 KRW (approximately 1,000 USD), a 3-month OpenAI API innovation license, and free expert consulting from OpenAI.

Microsoft Launcher also offers various learning opportunities for startups. The online learning platform 'Microsoft Learn' provides year-round 1:1 technical consultation sessions and startup-focused education. Through the Microsoft Mentor Network, startups can receive expert feedback and technical advice on product roadmaps, business plans, and operations.

Practical support leveraging Microsoft Korea's partner ecosystem is also provided. Collaborating with 'Supercoder,' a developer competency assessment and recruitment recommendation platform, it addresses startups' difficulties in hiring developers. Some startups with fewer than 10 employees are offered co-working space opportunities located in Seoul and Busan, alleviating rental costs for the first six months. Additionally, IR pitching opportunities are arranged, including strengthening investment attraction (IR) capabilities and actual investment support through meetings with global venture capitalists.

Ahmed Mazhari, President of Microsoft Asia, said, "Asia is currently a global innovation powerhouse, and startups are at the center of that innovation," adding, "In particular, Korea is emerging as a new startup hub in Asia, with the number of unicorn companies doubling compared to just three years ago and the startup population rapidly increasing."

Ji-eun Lee, CEO of Microsoft Korea, stated, "Through Microsoft Launcher, we will actively support promising domestic startups to create a sustainable ecosystem without technical or financial constraints."

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