Venture and Startup Sector "Welcomes Ministry of SMEs Budget Proposal... Establishing a Foundation for Quantum Jump"
"Boldly Prepared to Challenge the Global Market"
The venture and startup sectors have expressed their 'welcome' stance regarding the Ministry of SMEs and Startups' budget proposal for the next year.
![Seong Sang-yeop, Chairman of the Korea Venture Business Association, is delivering the opening address at the Venture Summer Forum held on the 23rd at the Lahan Hotel in Jeonju, Jeonbuk. <br>[Photo by Korea Venture Business Association]](http://www.asiae.co.kr/news/img_view.htm?img=2023083113513258784_1693457492.jpg)
Seong Sang-yeop, Chairman of the Korea Venture Business Association, is delivering the opening address at the Venture Summer Forum held on the 23rd at the Lahan Hotel in Jeonju, Jeonbuk.
[Photo by Korea Venture Business Association]
The Korea Venture Business Association stated on the 31st that it strongly agrees with the Ministry of SMEs and Startups' '2024 Budget Proposal' announced on the 29th.
In response, the Korea Venture Business Association commented, “To leap forward as a global startup powerhouse in the digital economy era, the budget for nurturing ventures and startups has been expanded, and the export support projects for companies entering global markets have been reorganized. Additionally, the global startup ecosystem has been advanced, creating a foundation for ventures and startups to make a quantum jump.”
They viewed positively the allocation of 454 billion KRW for the mother fund investment budget, which is a 44.8% increase from this year, and the plan to raise about 2 trillion KRW in investment funds including the Startup Korea Fund. The Korea Venture Business Association emphasized, “We believe this signals the government’s strong commitment to resolving the funding difficulties faced by ventures and startups.”
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Furthermore, the Korea Venture Business Association said, “The budget expansion for global corporate collaboration programs nurturing global ventures and technology-based future new business ventures, as well as the Super-gap Startup 1000+ project, creates conditions for ventures and startups to boldly challenge the global market as a means to overcome the economic crisis and drive future growth. We have high expectations.” They added, “The venture industry will continue to communicate closely with the Ministry of SMEs and Startups and do its best to leap forward as a global venture startup powerhouse.”
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