Recruitment of Startup Companies Challenging Global Scale-up

Recruitment of Companies for K-Startup Center Participation
Support for Entering the United States, Japan, and United Arab Emirates
Comprehensive Assistance Including Overseas Networking and Investor Matching

The Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development announced on the 14th that they are recruiting companies to participate in the 'K-Startup Center (KSC)'.

Since 2020, the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development have supported domestic startup companies in establishing themselves in overseas markets through the 'KSC program' for six years. KSC selects outstanding startup companies with a history of domestic and international investment attraction or sales performance in the target regions and provides local accelerating programs to help them settle in overseas markets. So far, among the 380 companies that participated in the program, 289 companies (76.1%) have succeeded in expanding overseas, demonstrating significant results.

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This year, support is provided to startups aiming to enter three countries: the United States, Japan, and the United Arab Emirates. The support tracks are divided into three, allowing companies to participate in local programs of two countries consecutively, thereby broadening the scope of support. Moreover, local accelerators visit Korea to assist in setting key performance goals one-on-one, and after a six-week preparatory process in Korea, companies receive 14 weeks of support through country-specific local programs.

Comprehensive support will be provided for K-Startup’s establishment in overseas markets, including partnership building through overseas networks, investor matching, overseas expansion funds, country-specific showcases, and performance presentations.

Shim Jae-hoon, CEO of Hopae, who participated in last year’s KSC France program, said, "Thanks to mentoring from local accelerators and expert networks overseas, the establishment of a local corporation and partnership agreements proceeded smoothly."

Yoo Jong-pil, President of the Korea Institute of Startup & Entrepreneurship Development, said, "KSC is a global platform that enables startups prepared for overseas expansion to effectively enter the global market," adding, "We hope the KSC program will be a successful stepping stone for startups to establish themselves in overseas markets."