SK Launches Social Venture Support Program... Introduces Scaling Up Initiative

Up to 70 Million Won in Support
Launch of Impact Booster
From Business Collaboration to Tailored Support

On May 7, SK announced the launch of “Impact Booster,” a program designed to help social ventures in their growth phase scale up their businesses. The program targets social ventures that have moved beyond the initial investment stage and entered Series A or B funding rounds. SK plans to select and nurture about 10 companies each year through this initiative.

SK will offer selected companies business collaboration opportunities with key SK affiliates such as SK hynix, SK Innovation, and SK Telecom, as well as business support funds of up to 70 million won. An initial fund of 10 million won will be provided for business growth, and if the company identifies a challenge to address in cooperation with SK affiliates, up to 60 million won in additional funds for demonstration projects will be available.

This program was established to address the structural limitations faced by social ventures, which often struggle to receive adequate recognition in the market and secure opportunities for advancement during their growth stage due to their focus on solving social issues. Social ventures refer to startups that pursue both innovative solutions to social problems and profitability.

In addition, SK will integrate its existing social venture support programs, such as “SK Pro Bono” and “SE Consultant,” to provide end-to-end support. Through this approach, B2C companies will receive product consulting and sales channel expansion, while B2B companies will be supported in securing references through proof-of-concept projects, facilitating tailored growth and follow-on investment opportunities for each company.

SK will also strengthen its support system by working with external professional organizations. This includes providing demonstration project funding in collaboration with the Seoul Business Agency (SBA) and offering free legal consulting in partnership with the non-profit organization OnYul.

SK expects that Impact Booster will contribute to the sustainable growth of promising social ventures and enhance their capacity to solve social problems.

Ji Dongseob, Head of the SV Committee at the SK SUPEX Council, stated, “Although the number of social ventures in Korea has increased, many have been undervalued and missed out on growth opportunities because of their mission to address social issues. We aim to become a sponsor that provides comprehensive support, ensuring that no company misses the chance to leap forward due to a lack of opportunities in the growth phase.”

Applications for Impact Booster will be accepted until midnight on June 3. Following a document review and interviews, the final selection results will be announced in early July. Applications can be submitted through the official Impact Booster website or via the SK Telecom Sketch platform.

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