20 Companies Selected for Baby Unicorn Profit-Growth Track... Fostering Venture Trillion-Won Enterprises
Up to 300 Million Won in Competitiveness Enhancement Funds
Up to 5 Billion Won in Follow-up Special Guarantees
The Ministry of SMEs and Startups announced on the 14th that it has finalized the selection of 20 companies to receive support under the "Baby Unicorn Nurturing Program: Profit-Growth Track."
The Baby Unicorn Nurturing Program: Profit-Growth Track is designed to foster "Venture Trillion-Won Companies" among venture businesses that have not previously attracted investment, have been in operation for at least four years but no more than ten years, and have annual sales between 20 billion won and 60 billion won. The program selects companies with high growth potential and provides up to 300 million won in competitiveness enhancement funds and up to 5 billion won in special guarantees.
For this program, 43 companies applied, resulting in a competition rate of 2.2 to 1. Ultimately, 20 companies with high growth potential were selected, boasting an average operational history of 6.7 years, average sales of 32.7 billion won, and an average sales growth rate of 55.5% over the past two years.
Among the selected companies, FuzionBio was recognized for its proprietary manufacturing technology for bio-cosmetics, including essence products utilizing secondary metabolites from novel microorganisms. ST Youngwon was acknowledged for its technological differentiation and global price competitiveness, based on technology that suppresses protrusion formation in battery anodes during separator production, resulting in outstanding thermal and mechanical stability.
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Kim Bongdeok, Director of Venture Policy at the Ministry of SMEs and Startups, stated, "There are 'profit-growth venture companies' that grow through their own sales and profits without external investment, and tailored support for these companies is also necessary." He added, "We have established this program for profit-growth venture companies and will actively support them so they can grow into Venture Trillion-Won Companies."
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