Ministry of SMEs and Startups Selects 41 'Specialized Capability BIs' to Support Early-Stage Startups

Providing Early-Stage Incubation Programs by Company
Types: Industry-Academia Cooperation, Industry Specialization, Regional Hubs
Up to 600 Million KRW in Support

The Ministry of SMEs and Startups announced on the 7th that it has additionally selected 41 'Specialized Capability BIs' that solve problems of tenant companies in startup incubation centers (BI) based on institutional capabilities.

The Specialized Capability BI program was established last year to help startup incubation centers provide startups not only with space but also with differentiated early-stage incubation programs.

The 52 Specialized Capability BIs selected last year supported 916 startup companies, and the average sales of the supported companies increased by 22%, and employment by 28% compared to 2023.

The newly selected Specialized Capability BIs are divided into three types: industry-academia cooperation, industry specialization, and regional hubs, each receiving up to 600 million KRW over two years. Through this, startup incubation centers (BIs) will help solve problems faced by startups such as technology development, market expansion, funding, and workforce supply.

First, the industry-academia cooperation type promotes problem-solving programs that assist early-stage startups with difficulties by utilizing experts such as university professors, owned technologies, and equipment for technical guidance, mentoring, joint industry-academia technology development, and project planning.

The industry specialization type enables startups to utilize specialized technologies, equipment, and intellectual property held by research institutes and others.

The regional hub type encourages startup incubation centers in non-metropolitan areas with relatively poor startup infrastructure to form consortia, allowing them to jointly pursue investment attraction, market expansion, networking, and other activities that are difficult to operate individually.

Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, said, "Through this project, we expect startup incubation centers to establish themselves as nurturing institutions that help early-stage startups in the region take a step forward."