The Ministry of SMEs and Startups has launched a 'Global Unicorn Vision Declaration Ceremony' aimed at fostering unicorn companies valued at over 1 trillion won (approximately 800 million USD).
According to the ministry, the event on June 23 included the vision declaration, a seminar on attracting investment for unicorn growth, the presentation of certificates to 50 selected companies under the Unicorn Bridge program, and announcements of plans from selected SMEs to achieve unicorn status.
The Unicorn Bridge program is designed to identify potential unicorns with proven innovation and growth potential, nurturing them into globally competitive unicorns. Selected companies will receive government support of up to 1.6 billion won (about 1.2 million USD) over two years, along with special guarantees of up to 20 billion won (approximately 15 million USD) from the Korea Technology Finance Corporation. The program will also facilitate overseas investment opportunities through investor relations (IR) events and other initiatives.
The 50 companies selected for the Unicorn Bridge program this year have attracted an average of 3.84 billion won (around 2.9 million USD) in private investments, reflecting a total corporate valuation of approximately 180.1 billion won (about 135 million USD). Their average revenue stands at 240 million won (approximately 180,000 USD), with an average of 106 employees.
Earlier, on June 2, the ministry held a meeting at the Korea Advanced Institute of Science and Technology (KAIST) Munji Campus, targeting 12 new super-gap startups located outside the capital region.
The 'Super-Gap Startup Project' aims to select startups in new industries and support them through funding for technology commercialization and development programs to help them grow into global unicorns.
Noh Yong-seok, First Deputy Minister of the Ministry of SMEs and Startups, stated, "For startups and venture companies to grow into unicorns, attracting global investment is essential. We will actively support potential unicorns to compete in the global market and aim to nurture 50 global unicorns by 2030."
* This article has been translated by AI.
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