Ministry of SMEs and Startups "Startup and Venture Ecosystem Grew 3.2 Times in 11 Years... Venture Investment Amount Increased 7 Times"

Asia Economy DB=Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Kim Bo-kyung] A survey revealed that the domestic startup and venture ecosystem has grown 3.2 times over the past 11 years.

The Ministry of SMEs and Startups announced the results of the "Comprehensive Startup and Venture Ecosystem Index" study, which quantifies trends in the startup and venture industry, on the 24th.

This index consists of a corporate index, investment index, and government index, each targeting the main actors in the startup ecosystem: companies, investors, and the government.

The corporate index measures the number of startups and venture companies, the investment index quantifies the amount of venture investment funds and the number of investment institutions, and the government index reflects various government startup policies such as the Korea Fund of Funds.

From 2010 to last year, the comprehensive startup and venture ecosystem index showed an overall upward trend.

Last year's comprehensive index recorded 319.6, approximately 3.2 times higher than 2010 (100.0). The corporate index was 163.7, the investment index 467.8, and the government index 334.9. The comprehensive index is calculated by weighting the detailed indices as 4 (corporate): 4 (investment): 2 (government).

Among the corporate index items, last year's R&D expenses of venture companies tripled compared to 2010, and in the investment index items, venture investment amounts increased sevenfold during the same period.

Among the government index items, last year's Korea Fund of Funds contribution amount was nine times that of 2010. By type, the startup ecosystem index was 338.3, and the venture ecosystem index was 343.0, showing similar figures.

Park Yong-soon, Director of Venture Innovation Policy at the Ministry of SMEs and Startups, stated, "This comprehensive index is meaningful in that it consolidates the indicators the government has individually announced so far, allowing us to confirm the quantitative growth of the entire startup and venture ecosystem in measurable figures."