Ministry of SMEs and Startups: "Last Year's Deep Tech Venture Investment Highest in the Past 5 Years"
Ministry of SMEs and Startups Releases '2024 Deep Tech Top 10 Sectors Venture Investment Trends'
Total Investment Reaches 3.6 Trillion KRW... Up 34% from Previous Year
Bio Healthcare and Artificial Intelligence Account for Largest Shares
Last year, investment in the top 10 deep tech sectors within domestic venture capital increased by approximately 34% compared to the previous year. Analysis indicates that investor interest in the deep tech sector is rising to the highest level in the past five years.
According to the '2024 Deep Tech Top 10 Sectors Venture Investment Trends' report published by the Ministry of SMEs and Startups on the 8th, investment in the top 10 deep tech sectors within domestic venture capital last year totaled 3.6 trillion KRW, marking an increase of about 34% compared to the previous year. This analysis is based on companies that received investments from venture capital firms and funds under the 'Act on the Promotion of Venture Investment.' The deep tech sectors include artificial intelligence (AI) and big data, system semiconductors, robotics, mobility, cloud and network technologies, among others.
By sector, investments in 'Bio Healthcare' and 'Artificial Intelligence' accounted for the largest shares of the total deep tech investment, at 33% and 26.7%, respectively. Notably, the artificial intelligence sector saw the largest increase in absolute terms, rising by 415.8 billion KRW within the overall deep tech investment.
Breaking down the artificial intelligence sector into three categories, investment in 'AI software development and supply' was the largest, totaling 660.5 billion KRW. In terms of growth rate compared to the previous year, 'AI construction, management, and related information services' and 'AI computation and processing component/device manufacturing and design' showed significant increases of 113.9% and 290.9%, respectively.
Among deep tech companies that attracted venture investment last year, 722 companies, accounting for 75.1% of the total, had a history of receiving investment from the Korea Fund of Funds or participating in startup support programs. A total of 682 companies received 8.807 trillion KRW in investment through the Korea Fund of Funds, and 353 companies received a total of 222.6 billion KRW in funding and special guarantees through startup support programs.
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Oh Young-joo, Minister of SMEs and Startups, stated, "The Ministry has continuously driven investment in the deep tech sector through the Korea Fund of Funds." He added, "Going forward, the Ministry will activate venture investment in promising deep tech sectors and strengthen policy support by systematically implementing measures such as creating an innovative bio-venture ecosystem and promoting AI utilization and dissemination, aiming to nurture globally competitive deep tech startups."
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