'Up to 17.3 Billion KRW Support' 51 Baby Unicorn Companies Selected

Up to 17.3 Billion KRW Support for New Market Pioneer Funds
Strengthened Overseas Market Scale-up Support Starting This Year

NDotLight possesses technology that enables easy implementation of 3D modeling on the web for creating and modifying virtual three-dimensional objects. Darisoft has developed an AI-based road analysis device installed in vehicles. It detects road damage, cracks, debris, and provides real-time hazard information to managers.

'N.DotCAD' developed by N.DotLight (Photo by N.DotLight website)

NDotLight and Darisoft are "Baby Unicorns" announced by the Ministry of SMEs and Startups on the 30th. The ministry selected 51 companies with high potential to grow into global unicorn companies. So far, 200 companies have been selected as Baby Unicorns, and this is the fourth selection.

This time, 299 startups applied for the Baby Unicorn program, showing a competition rate of about 6 to 1. The selected 51 companies have an average business duration of 4.2 years and average sales of 2.49 billion KRW. The average number of employees is 17.9, and the average amount of investment attracted is 5.91 billion KRW. By industry, the bio and health sector accounted for the highest proportion with 22 companies (43.1%).

Baby Unicorns receive new market pioneering funds (up to 300 million KRW). They are given preferential treatment when applying for special guarantees (up to 5 billion KRW), policy funds (up to 10 billion KRW), and R&D funds (up to 2 billion KRW), allowing support of up to 17.3 billion KRW. Especially from this year, support is strengthened to enable scale-up through overseas market entry. Investment roadshows (IR and investment consultations) will be held targeting global venture capital and leading overseas corporate venture capitals (CVCs), and global talent recruitment will also be supported.

Lee Young, Minister of SMEs and Startups, said, “Baby Unicorns are achieving remarkable growth even under difficult economic conditions based on innovative business models and technological capabilities,” and added, “We will actively support the Baby Unicorns selected this time to achieve high growth.”