Government to Identify and Foster Leading Future K-Content Companies

Applications for Content Startup Support Program Open Until the 26th
Selecting About 160 Prospective Entrepreneurs and Seed Companies

The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency are looking for about 160 prospective entrepreneurs and startup companies to participate in the content startup support project by the 26th. Customized support will be provided according to the type to nurture companies that will lead the future K-content industry.

The program is operated by dividing into four categories: idea commercialization, accelerator linkage, leading company linkage, and investment linkage. Last month, the Ministry and KOCCA selected twenty private specialized institutions to assist with this. Each institution will leverage its expertise to nurture participating companies. However, investment linkage focuses on funding support rather than connecting with specialized institutions.

Seventy prospective startup teams selected for idea commercialization will receive support for prototype development, startup programs, and startup support vouchers (5 million KRW). The incubation institutions include seven organizations: Dankook University, Dongguk University, Dongseo University Industry-Academic Cooperation Foundation, Dong-Eui University Industry-Academic Cooperation Foundation, Ansan University Industry-Academic Cooperation Foundation, Ulsan Creative Economy Innovation Center, and Pohang United Technology Holdings.

Forty startup companies will join the accelerator linkage category. They will receive up to 90 million KRW in commercialization funds, dedicated mentoring, consulting, and more. They can also aim for accelerator-linked investments totaling 500 million KRW. Participating accelerators include five organizations: ReVentures, CNT Tech, MY Social Company, Y&Archer, and Tap Angel Partners.

Eighteen startup companies will join the leading company linkage category. They will receive commercialization funds for domestic development (up to 67 million KRW) and overseas expansion (up to 100 million KRW), as well as resources from leading companies such as infrastructure, intellectual property, space, platforms, and solutions. The leading companies involved are eight organizations: Kyobo Book Centre, Naver Cloud, The Sandbox Korea, Lotte World, Megabox, SK Telecom, LG Uplus, and T1.

About thirty companies will be selected for investment linkage, divided into general type and secured investment type. The former supports companies seeking investment, while the latter is for follow-up investments for companies that have already secured funding. They will receive up to 200 million KRW in commercialization funds and customized programs per company.

The Ministry and KOCCA will hold a project briefing session at 2 p.m. on the 15th at the Content Korea Lab (CKL) Enterprise Support Center. They will provide guidance on directions by category, eligibility, application methods, and operate one-on-one consultations with category managers. For more details, please refer to the KOCCA or e-Naradoom websites.