Ministry of SMEs and Startups to Recruit Two New Startup-Centered Universities

Strengthening the Role of University-Originated Startups as Regional Startup Hubs

The Ministry of SMEs and Startups announced on the 13th that it will recruit two new Startup-Centered Universities. Startup-Centered Universities are leading institutions in the startup ecosystem that utilize university startup infrastructure to support regional startups and activate university-originated entrepreneurship. Currently, the Ministry has designated nine universities with excellent startup support capabilities by region as Startup-Centered Universities to support regional startups and entrepreneurship activation through universities.

The purpose of this new recruitment of Startup-Centered Universities is to reduce the gap in startup infrastructure between the metropolitan and non-metropolitan areas and to strengthen the role of Startup-Centered Universities as regional hubs. Especially this year, the role of Startup-Centered Universities will be further enhanced by actively utilizing startup infrastructure such as professional personnel and equipment owned by universities to support startups, and by strengthening cooperation with related organizations within the region.

The applicants must be universities in non-metropolitan areas that possess excellent startup infrastructure such as dedicated organizations, personnel, and collaborative networks. After reviewing the eligibility requirements of the applying universities, a final selection will be made based on document evaluation and presentation assessment, choosing universities with outstanding capabilities. Universities selected as Startup-Centered Universities will receive approximately 7.4 billion KRW annually, through which they will take on roles leading the activation of the regional startup ecosystem, including supporting startup companies, spreading startup culture, and networking for entrepreneurship activation.

Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, stated, “This new recruitment of Startup-Centered Universities will be a new leap forward to activate the regional startup ecosystem and university-originated entrepreneurship,” and added, “We will strive to spread regional startup culture and promote university-originated startups through universities with excellent capabilities.”