How to Apply for 'Startup Package' Support in Busan... First Unified Announcement, Recruiting Participating Companies

Busan Startup Package Support Program Launched,
4S Program Now in Operation
From Startup ON to Pre-Startup, Early Startup, and Startup Leap Packages

Busan City is launching its first comprehensive recruitment of hopeful companies by bringing together all support programs aimed at creating a global startup city.

Busan City (Mayor Park Hyungjun) announced that from the 7th to March 24th, it will conduct its first integrated announcement for the 2025 Busan Startup Package Support Program, which provides customized support at each stage to ensure the sustainable growth of startups, and will begin recruiting companies.

For the first time this year, the city is announcing the startup package support programs together, improving the previous approach of operating each program separately.

With the launch of the Busan Technology Startup Investment Institute this year, Busan City is unifying its startup support system to provide comprehensive and integrated support. Additionally, by restructuring the program into the 4S (STAGE) Program, the city aims to increase efficiency and strengthen organic connections between stages by providing advanced support to outstanding companies, thereby supporting stable growth for startups at each stage.

The 4S Program consists of: ▲PRE-STAGE, the 'Startup ON Package' which is open to anyone interested in entrepreneurship at any time; ▲SET-UP STAGE, the 'Pre-Startup Package' offering customized programs for prospective entrepreneurs; ▲BUILD-UP STAGE, the 'Early Startup Package' providing comprehensive incubation for technology startups within three years of establishment; and ▲SCALE-UP STAGE, the 'Startup Leap Package' offering in-depth support for promising local startups within seven years of establishment (or within ten years for new industries) to help them scale up.

Furthermore, to lower barriers to entry, Busan City has introduced the 'Startup ON Package', which allows anyone interested in entrepreneurship to receive a startup diagnosis, and has also launched a customized program for prospective entrepreneurs with innovative technologies and ideas.

The 'Busan Startup ON Package' is open to anyone interested in starting a business and provides a range of support, including startup diagnosis, expert consulting in various fields (management, tax, law, etc.), entrepreneurship education, and networking with investors and local entrepreneurs. Applications can be submitted at any time, regardless of the announcement period, either online via the Busan Startup Portal or offline at the Startup Cafe (Eurasia Platform at Busan Station).

The 'Busan Pre-Startup Package' selects 50 prospective entrepreneurs based in Busan and provides up to 20 million KRW per person in business funding, along with capacity-building education, networking support, and linkage to the 'Early Startup Package' for outstanding companies.

Additionally, the Early Startup Package will expand its support targets and business funding, while the Leap Package will extend eligibility to startups in new industries with up to ten years of business history. This ensures continuous, stage-specific support from the very early stages to the leap toward becoming a unicorn company. A unicorn company refers to an unlisted startup valued at over 1 trillion KRW.

The 'Busan Early Startup Package' targets technology startups based in Busan that have been established for less than three years, selecting 40 early-stage startups and 10 re-startups, for a total of 50 companies. The program provides up to 55 million KRW in business funding, free office space (TIUM), basic competency diagnostics, and comprehensive incubation to support successful business establishment. Outstanding companies will be linked to the follow-up 'Startup Leap Package' through evaluation.

The 'Busan Startup Leap Package' targets outstanding startups based in Busan that have been in business for more than three years but less than seven. From this year, startups in new industries such as artificial intelligence are eligible if established within ten years. Approximately 20 companies will be selected, with business funding of up to 50 million KRW (basic funding around 16 million KRW), company diagnostics, business model (BM) evaluation, and technology transfer support.

Details of this program announcement can be found on the Busan Startup Portal, and further information is available in the announcement posted on the portal.

Mayor Park Hyungjun of Busan said, "By unifying the startup support system and implementing customized policies for each growth stage, we will lay the foundation for the growth of startups," adding, "We will further expand public-private cooperation and spare no support for startups with innovative technologies to ensure their sustainable growth and to vitalize the startup ecosystem."

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