The Ministry of SMEs and Startups said on the 21st it selected 278 promising startup corporations in the four startup cities of Daegu, Gwangju, Daejeon and Ulsan, and will provide up to 400 million won in commercialization funds per corporation.
This program is a follow-up to the "startup city development project" released in April, prepared to help the growth and settlement of local startup corporations and to promote the transfer of outstanding corporations from other regions.
The Ministry of SMEs and Startups (MSS) will carry out the "2026 startup city development project integrated announcement for startup corporations" from the 22nd to July 7.
The support programs are divided into the "investment-linked startup package" for early and growth-stage corporations with investment records, and the "regional startup package," which supports the growth and transfer of regional startup corporations.
Eligible applicants are startup corporations located in a startup city or those wishing to transfer to the area. Depending on the field and the corporation's growth stage, commercialization funds ranging from up to 80 million won to 400 million won will be provided.
By startup city, the selection quotas are 74 corporations in Daegu, 73 in Gwangju, 74 in Daejeon and 57 in Ulsan, totaling 278.
In particular, this program will, for the first time, introduce an "autonomous selection" method in which local governments design the eligibility and selection methods directly to fit their regional strategies.
Of all selected corporations, 100 will be chosen by each local government under separate criteria, targeting regional fund investee corporations, corporations recommended by universities and research institutions, and outstanding graduates of regional startup support programs.
The remaining 178 corporations will be selected through an open call on the startup support platform K-Startup.
The Ministry of SMEs and Startups (MSS) also plans to provide a benefit under which local governments offer an additional 10% of the self-contribution for corporations that transfer to a startup city.
Cho Kyung-won, startup policy director at the Ministry of SMEs and Startups (MSS), said, "The startup city development project is a new policy model in which regions design and grow their own startup ecosystems," adding, "We will support the establishment of startup ecosystems tailored to regional characteristics based on the autonomy and accountability of local governments."
Following the four technology-talent-centered startup cities, the Ministry of SMEs and Startups (MSS) plans to select six additional startup cities in the second half of this year. By 2030, it aims to foster five startup cities within the top 100 global startup ecosystems and shift the Seoul metropolitan area-centered startup structure into a system in which regional hubs grow together.