Ministry of SMEs and Startups Launches Pilot Operation of 'Startup Verification System'

Operation of Verification System for Priority Purchase Program of Startup Company Products by Public Institutions

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 22nd that it will begin a pilot operation of the ‘Startup Company Verification System,’ which verifies whether a company is a startup and issues a verification certificate.

This system is a measure to allow companies participating in the ‘Priority Purchase System for Startup Company Products by Public Institutions’ to verify their startup status and receive an online verification certificate.

The Startup Company Verification System provides ▲ online application for startup verification and issuance of verification certificates ▲ self-diagnosis before membership registration and pre-acquisition of required document information ▲ call center (1811-3773) support for simple system usage consultations and remote assistance.

The Ministry of SMEs and Startups explained that its top priority is to fully implement next year’s Priority Purchase System for Startup Company Products by establishing and operating the verification system within this year, following related legal amendments, to help startups struggling due to COVID-19 secure sales channels in the public market as soon as possible.

Additionally, through the pilot operation of the verification system until the end of January next year, they plan to identify and address user inconveniences and errors. They also intend to advance the system by automating the submission of supporting documents by April next year, enabling applicants to use the system more conveniently starting in May.

Cha Jeonghoon, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, stated, “The launch of the Startup Company Verification System is significant as it allows the full-scale implementation of the Priority Purchase System for Startup Company Products from next year.” He added, “We expect startups facing difficulties in sales channels to utilize this system to enter the public market, build a track record of deliveries in the public sector, and eventually expand into the global market.”