Investing 2 Trillion to Grow 1,000 Deep Tech Companies... "Targeting the Global Market"

Ministry of SMEs Holds 'Super Gap Project Launch Ceremony'
About 1,900 Deep Tech Startups Apply
Competition Ratio 13:1... "Supporting the Road Less Traveled"

The government has taken its first step in a project that will invest 2 trillion won over the next five years to nurture 1,000 deep tech startups and support their global expansion.

On the 10th, the Ministry of SMEs and Startups held the 'Super-gap Project Launch Ceremony' at Tipstown in Seoul, attended by Minister Lee Young, representatives of super-gap startups, and about 100 executives and employees from specialized organizations.

The launch ceremony marked the beginning of the 'Super-gap Startup 1000+ Project.' The project targets deep tech companies within 10 years of establishment in 10 new industry sectors. The Ministry, together with a private evaluation committee, selected 150 companies this year.

These companies will receive a total of 1.1 billion won per company over three years for commercialization and research and development (R&D) funding, along with linked support such as policy funds, guarantees, and exports. The total project budget over five years consists of 1.3 trillion won from the government budget and 700 billion won from private investments.

The 10 new industry sectors include ▲system semiconductors ▲bio-health ▲future mobility ▲eco-friendly energy ▲robots ▲big data & AI ▲cybersecurity & networks ▲aerospace & marine ▲next-generation nuclear power ▲quantum technology.

◆Over 1,900 companies applied for the project= At the launch ceremony, Minister Lee presented the super-gap project plaques to Park Sung-hyun, CEO of Rebellion, and Kim Ju-sung, CEO of Revest.

Rebellion, selected in the system semiconductor sector, designs AI algorithm chips and has attracted a total of 112 billion won in cumulative investment within two years of its founding. Revest, in the eco-friendly energy sector, received the CES Innovation Award this year for its flame-retardant and non-floating batteries.

Ko Young-seok, Executive Director at Hyundai Mobis and head of the evaluation committee that selected participating companies, explained, "We recruited companies through various methods including open calls, private verification, and ministry recommendations, targeting deep tech companies within 10 years of establishment. After a competition ratio of 13.1 to 1, a total of 150 companies were selected."

Looking at the selected companies, startups over seven years old among those within 10 years of establishment accounted for 10% (14 companies) of the 150. The average cumulative investment amount until last year was 10.1 billion won, and the average investment raised was 3.56 billion won. Female-led startups accounted for 5% (7 companies).

At the exhibition booths that day, products from five sectors such as bio (Sylvia Health), future mobility (Scala Data), and quantum technology (Q Simple Plus) were displayed under the slogan "Global Startup Powerhouse, Led by Super-gap Startups."

Meanwhile, one of the super-gap project initiatives, 'Deep Tech TIPS,' plans to select 120 startups annually that have attracted investments of over 300 million won from existing TIPS operators in the 10 sectors.

So far, 13 companies have been selected, and more will continue to be chosen through recommendations from TIPS operators.

◆"Deep tech companies must compete globally"= The super-gap project places emphasis on global expansion. It is reported that the global expansion plan was a significant factor in the company selection process.

In his greeting, Minister Lee said, "Deep tech companies must compete globally," and expressed his determination, saying, "We will continue to attract global funds and ensure that the raised funds are used effectively."

He added, "We will support even the paths less traveled," and stated, "We must move at the same speed as those working beyond our borders. If there is a place somewhere on Earth that has approved a new business, we must go there unconditionally."

He also emphasized, "President Yoon Seok-yeol and our ministry are all convinced that 'the economy must be led by startups.' The rules and categories of the game are changing. New players must play on new grounds."

Minister Lee announced, "I plan to attend the startup festival 'Viva Technology' held next month in Paris, France," and shared the news that "Korea will be the partner country and co-host of Viva Technology this year." He plans to introduce Korean startups to the European market and connect them with global venture capital (VC).

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