Lead Institutions Selected for the Global Accelerating Support Project
The Ministry of SMEs and Startups announced on the 13th that it has selected eight organizations, including the Korea Agricultural Technology Promotion Agency, as the lead institutions for the '2025 Global Accelerating Support Project,' which supports the overseas expansion and settlement of promising domestic startup companies.
The 'Global Accelerating Support Project' is a program that supports promising startups by providing domestic and international accelerating programs and overseas expansion funds to back their overseas expansion and growth. The lead institutions (ministries) selected this year and their main project details are as follows: First, the Korea Agricultural Technology Promotion Agency (Ministry of Agriculture, Food and Rural Affairs) supports the entry of food, agtech, and green bio startups into Singapore based on its expertise in the agricultural industry. Singapore is a financial and investment hub and a foothold for entering the Southeast Asian market, providing a suitable environment for the growth of startups in the agricultural and food sectors.
The Korea Agency for Infrastructure Technology Advancement (Ministry of Land, Infrastructure and Transport) leverages its strengths as a research and development institution in the land and transportation sector to assist startups in this field to enter Germany and Finland. It promotes technological collaboration with global companies such as Deutsche Bahn, Microsoft, and NVIDIA, as well as exchanges with local startup ecosystems. The Korea-Africa Foundation (Ministry of Foreign Affairs) supports climate tech and aging tech startups in entering South Africa and Egypt based on its local networks in Africa.
The Chungnam Center for Creative Economy and Innovation (Ministry of Environment) uses its know-how in supporting entry into the European market to help climate tech startups enter Germany. Synergy is expected between the Ministry of Environment’s expertise in the industrial sector and the Chungnam Center for Creative Economy and Innovation’s global network.
There are also newly participating ministries this year. The Korea Aerospace Technology Promotion Association (Space Agency) collaborates with global accelerators specializing in space and aviation to support space startups entering France, and the Korea Intellectual Property Information Service (KIPO) supports IP-based deep tech startups entering the United States.
There are two more institutions supporting entry into the United States, which has a world-class startup ecosystem and high demand for startup expansion. They are the Korea Edutech Industry Association (Ministry of Trade, Industry and Energy) and the Korea Youth Entrepreneurship Foundation (Ministry of Education). Based on their know-how in nurturing startups in specialized fields, the two institutions plan to lead the entry of edutech startups and service platform, big data, and intelligent robot startups into the United States, respectively.
Cho Kyung-won, Director of Startup Policy, said, "In the face of rapid technological development and rapidly changing domestic and international environments, relying on the resources of a single ministry has limitations, and cross-ministerial collaboration is essential. We will continue to strengthen collaboration to utilize the excellent capabilities of other ministries and the private sector to support startups’ overseas expansion and growth."
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