The Ministry of SMEs and Startups said on the 10th it is recruiting corporations to participate in the "2026 public-private cooperation open innovation support: everyone's challenge bio," a program that supports collaboration between promising startups in the bio sector and major domestic pharmaceutical corporations.
The program was prepared to consolidate startup corporations with innovative technology and large and mid-sized pharmaceutical corporations with research and development (R&D) and commercialization capabilities.
This year's program includes participation by Yuhan, GC Biopharma, and Chong Kun Dang pharmaceutical, among other domestic bio and pharmaceutical corporations. Participating corporations presented demand for technologies such as artificial intelligence (AI)-based new drug development platforms, next-generation formulation technology, and biomarker-based diagnostic technology. Selected startups will receive technical advice and proof-of-concept (PoC) opportunities, and can also expect collaboration such as joint R&D and overseas market entry.
Eligible applicants are startup corporations in the bio sector with innovative technology or business models. Finalist corporations will receive up to 1 billion won in commercialization funds. Outstanding corporations will also be offered additional support programs tailored to their growth stage, such as linkage with private investment.
Hwang Young-ho, director general for technology innovation policy at the Ministry of SMEs and Startups (MSS), said, "Because the bio industry requires massive funds and long timelines at the outset, open innovation that combines large corporations' infrastructure with startups' flexible innovativeness is essential," adding, "We expect this challenge to become a springboard for excellent domestic startups to grow into global unicorn corporations."
Startups wishing to participate in the program can apply through the K-Startup entrepreneurship support portal from the 11th to July 1. Details such as required documents can be found on the official website of the Ministry of SMEs and Startups (MSS).