YSU Graduate Companies Achieve 7 Trillion Won in Sales Over Last 5 Years... Establishes Itself as a Cradle of Successful Startups

14,000 Jobs Created by Graduate Startups in the Past 5 Years
Marking Its 15th Anniversary, the Academy Prepares for a New Leap... Launch Ceremony Held on the 9th

"Based on creativity and a spirit of challenge, we will become innovative entrepreneurs who solve the world's problems and create new value. We will not fear failure, but will continuously learn, grow, and lead the startup ecosystem in Korea." On May 9, at the main campus of the Youth Startup Academy in Ansan, Gyeonggi Province, five representatives of this year's incoming class, including Na Inchae, CEO of Infinite Monkeys, recited a declaration affirming their determination for successful entrepreneurship at the "2025 Youth Startup Academy Launch Ceremony." Despite the light rain that fell throughout the day, the passion of this year's new students for successful entrepreneurship was palpable. There was a strong sense of determination to achieve their goals at the Youth Startup Academy. The achievements the Youth Startup Academy has accumulated so far support these expectations. Now in its 15th year, the Youth Startup Academy has demonstrated remarkable growth and has established itself as a cradle of youth entrepreneurship in Korea.

At the "2025 Youth Startup Academy Launch Ceremony," participants including Jung Wook Lim, Director of Startup Venture Innovation at the Ministry of SMEs and Startups (fourth from the left in the front row), and Seokjin Kang, Chairman of the Korea SMEs and Startups Agency (third from the left in the front row), are taking a commemorative photo.

According to the Ministry of SMEs and Startups on May 12, the Youth Startup Academy (YSU) has supported a total of 8,477 young entrepreneurs as of last year, producing two unicorn companies and eight listed companies. The achievements over the most recent five years, up to 2023 when sales were last tallied, are even more notable. During this period, 4,753 youth startup companies supported by the program recorded cumulative sales of 6.9565 trillion won and created 14,313 jobs.

The background to these results is said to be the Academy's differentiated strengths, such as policy package support, close coaching by dedicated faculty, and an alumni network. First, the Academy provides a package of support for one year after admission, including startup space, education and coaching, investment attraction, and commercialization funding. Bae Changdeuk, CEO of BI Lab, a graduate company, said, "We were able to overcome initial funding difficulties in the first production process by utilizing the commercialization support funds provided by the Academy," and added, "In addition, through startup education, coaching, and networking, we were able to focus on commercialization." In particular, the close coaching offers one-on-one guidance throughout the entire commercialization process, from product planning and prototype production to marketing. Jin Haesu, CEO of Join&Join, said, "One-on-one mentoring provided valuable guidance for setting the direction and management plans our company should pursue in the future."

Even after graduation, follow-up support such as funding, export assistance, and personnel support continues for five years. Jeong Jiseong, CEO of SOS Lab, said, "After graduating from the Academy, we received follow-up support such as policy funding and investment/loan support, which helped us secure the necessary funds for initial development and marketing, reducing the burden of development costs and allowing us to focus on research and development." Park Jinsu, CEO of Colosseum Corporation, also said, "Thanks to the overseas training program provided for two to four weeks last year, we were able to conduct proper market research, understand customer needs, and build relationships with various partners."

At the "2025 Youth Startup Academy Launch Ceremony," attendees including Jungwook Lim, Director of Startup Venture Innovation at the Ministry of SMEs and Startups (fourth from the left), and Seokjin Kang, Chairman of the Korea SMEs and Startups Agency (sixth from the left), are taking a commemorative photo.

The opportunity to form networks essential for business growth?such as sharing entrepreneurial know-how, securing clients, technological collaboration, and investment support?through exchanges with seniors, juniors, and alumni is another reason why young entrepreneurs turn to the Academy. Hong Seokwon, CEO of ValorRingBiz, a business development startup and a member of this year's 15th class, expressed his ambition: "Based on the alumni networking infrastructure, we will identify the problems companies are facing in the field and determine which business development specialized services are suitable to solve them, thereby advancing customized technologies."

The Ministry of SMEs and Startups plans to continue supporting young entrepreneurs through the Academy so that they can build a solid foundation for growth and secure competitiveness in domestic and overseas markets. At the 15th Launch Ceremony, Jungwook Lim, Director of Startup Venture Innovation at the Ministry of SMEs and Startups, emphasized that each student at the Academy is an engine driving Korea as a startup nation. He said, "Through the Academy, we will strengthen global expansion, attract private investment, and promote connections with regional key industries."