Government to Select 270 Non-Face-to-Face Startups... Budget of 41.1 Billion Won Allocated

Joint Government Ministries' 'Non-Face-to-Face Startup Development Project'

[Asia Economy Reporter Kim Bo-kyung] The government will select 270 non-face-to-face startups and provide a total of 41.1 billion KRW in support to foster innovative companies leading the digital economy.

On the 30th, seven ministries, including the Ministry of SMEs and Startups, announced that they will promote the "Non-Face-to-Face Startup Fostering Project" to discover and support promising startups in the non-face-to-face sector.

Introduced in 2021, this project was launched by the government to nurture innovative companies leading the global digital economy in the non-face-to-face sector, as the non-face-to-face environment expanded due to the COVID-19 pandemic.

The seven government ministries select startups according to their respective policy directions. This year, about 270 startups will be selected and supported with 41.1 billion KRW.

Selected companies will receive commercialization funds from the Ministry of SMEs and Startups (up to 150 million KRW per company), along with specialized programs reflecting the expertise of each ministry, including mentoring, market access, and investment attraction support. The main areas of the specialized programs are divided into ▲Education ▲Lifestyle & Consumption ▲Content ▲Core Technology.

Startups wishing to participate in the project can apply online through the K-Startup website from 2:00 PM on the 10th to 5:00 PM on the 23rd of next month.