Can I also receive startup support funds?
If you are interested in starting a business, you may have wondered, "Can I also receive startup support funds?" Indeed, if you search for 'startup support funds' or visit websites related to startups, you will find various announcements. However, there is so much information that it can be confusing to know where to start. Therefore, this article summarizes representative programs that are officially operated by the government, recruited regularly every year, and have relatively large support scales among numerous startup support projects.
🙋🏻♀️Check this first!
▶️ Government-supported projects usually start recruiting in early year (January-February). It is important to check the suitable projects and necessary preparations for yourself from now on, so that you can apply immediately when the announcement is made.
▶️ You can check the list of previously selected businesses on the official website of each project. Look at what businesses have received support to find opportunities that suit you. This will help you get the information and hints you need.
▶️ Since the target, content, and schedule may change every year, the following information is based on the 2024 recruitment announcement. It is important to check the latest information through the official announcement of each project when it is released. *Updated December 10, 2024
⬇️Government Support Projects by Business Cycle⬇️
Cycle | Representative Government Support Project |
Prospective Entrepreneurs | Startup Package |
| New Business Startup Officer School |
| Youth Startup Support Project for the First Time in Life |
| Startup-Centered University - Prospective Entrepreneurs |
Early Stage Entrepreneurs (within 3 years) | Early Stage Startup Package |
| Startup Success Package - Youth Startup Officer School |
| Startup-Centered University - Early Stage Startups |
Mid-Stage Entrepreneurs (3~7 years) | Startup Leap Package (Large Corporation Cooperation Type, General Type, Investment Parallel Type, Loan Parallel Type) |
| Startup-Centered University - Leap Stage Startups |
| Startup Success Package - Global Startup Officer School |
Re-Entrepreneurs | Redo Challenge Success Package |
| Hope Return Package |
1️⃣Prospective Entrepreneurs
Startup Package
- We discover and support prospective entrepreneurs with innovative technologies and business models.
- Support Target: Prospective entrepreneurs who have not registered as a business or incorporated as of the announcement date
- Support Content: Business funding (up to KRW 100 million), startup programs, etc.
- Selection Scale: 770 people in general fields, 80 women in special fields / 80 social ventures / 30 teams of in-house ventures
- Recruitment Schedule: Business announcement (February) > Document screening (March) > Presentation evaluation and selection (April) > Business support (April~)
- Operating Agency: Startup Promotion Agency, Prospective Early Startup Division
- 2024 Recruitment Period: Tuesday, January 30, 2024, 2:00 PM ~ Wednesday, February 21, 2024
- Go to the 2024 Recruitment Announcement
New Business Startup Academy
- We select prospective small business owners who are preparing to launch a business with promising items with high growth potential and provide basic and management education, product development support, and business funding.
- Support Target: Prospective entrepreneurs who want to start a business with new business ideas or promising items
- Application field: Local creator type / Lifestyle type / Online seller type
- Support Content: Business funding (up to KRW 40 million)
- Selection Scale: Up to 500 people (regional recruitment scale varies)
- Recruitment Schedule: Business announcement (March) > Evaluation (April) > Presentation (May) > Business support (May~)
- Operating Agency: Small and Medium Business Administration Startup Support Division
- 2024 Application Period: March 18, 2024 ~ March 29, 2024
- Go to the 2024 Recruitment Announcement
Lifetime First Youth Startup Support Program
- We support young prospective entrepreneurs who are challenging technology startups for the first time in their lives with startup and technology education, expert mentoring, prototype development, etc.
- Support Target: Young prospective entrepreneurs under the age of 29 who are preparing to launch a technology-based business as of the announcement date
- Support Content: Business funding (up to KRW 70 million), startup program
- Selection Scale: Approximately 78 people
- Recruitment Schedule: Business announcement (January) > Application and reception (January~February) > Evaluation and presentation (March) > Business support (March~)
- Operating Agency: Ministry of SMEs and Startups Startup Promotion Agency
- 2024 Application Period: Monday, January 22, 2024 ~ Monday, February 5, 2024
- Go to the 2024 Recruitment Announcement
Startup-Centered University - Prospective Entrepreneurs
- We support the commercialization of excellent technology startup items and business models of prospective entrepreneurs in designated regions or universities.
- Support Target: Prospective entrepreneurs who meet the designated region or startup-centered university criteria
- Divided into university-launched startups / general regional types
- Support Content: Business funding (around KRW 50 million, up to KRW 100 million), startup programs, etc.
- Support Scale: Approximately 351 people
- Recruitment Schedule: Business announcement (January) > Application and reception (January) > Evaluation and presentation (February) > Business support (March~)
- Operating Agency: Ministry of SMEs and Startups Startup Promotion Agency
- 2024 Application Period: Monday, January 22, 2024 ~ Thursday, February 1, 2024, 4:00 PM
- Go to the 2024 Recruitment Announcement
2️⃣Early Stage Startups (Within 3 Years)
Early Startup Package
- We provide the necessary business funding for promising startup items and high-tech early-stage companies (up to KRW 100 million).
- Support Target: Early stage startups within 3 years of operation
- Support Content: Business funding (up to KRW 100 million), startup programs, etc.
- Selection Scale: Approximately 590 companies
- Recruitment Schedule: Business announcement (January) > Application and reception (February) > Evaluation and presentation (March~April) > Business funding support (April~)
- 2024 Application Period: Tuesday, January 30, 2024 ~ Thursday, February 22, 2024
- Go to the 2024 Recruitment Announcement
Startup Success Package Youth Startup Academy (Enrollment)
- We discover outstanding entrepreneurs who possess promising startup items and innovative technologies, and support them throughout the initial stages of their ventures.
- Support Target: Individuals aged 39 or younger, who are representatives of startups within 3 years of establishment
- Support Details: Business funding (up to KRW 100 million, within 70% of total project costs), provision of startup preparation space, startup education and coaching, technological support, etc.
- Selection Scale: Total of 850 individuals (170 for private-led initiatives, 680 for specialized operations)
- Final selected candidates (enrollees) must reside in the Youth Startup Academy's designated startup space and complete mandatory entrepreneurship education and coaching.
- Application Schedule: Business announcement (January) > Application & Submission (January-February) > Evaluation & Announcement (February-March) > Program Commencement (March~)
- Operating Agency: Small and Medium Venture Business Corporation, Ministry of SMEs and Startups
- 2024 Application Period: 2024.01.15(Mon) ~ 2024.02.05(Mon)
- Go directly to the 2024 recruitment announcement
Startup-Focused Universities - Early Stage Startups
- We support the commercialization of outstanding technology startup ideas and business models for early stage startups based on regional or university criteria.
- Support Target: Individuals who meet the designated regional or startup-focused university criteria, and are within 3 years of establishing their venture (refer to detailed announcement content)
- Support Details: Government support funds (around KRW 70 million, up to KRW 100 million), startup programs, etc.
- Selection Scale: Total of approximately 180 ventures (54 university-launched startups, 126 general regional types)
- Application Schedule: Business announcement (January) > Application & Submission (January) > Evaluation & Announcement (February) > Funding Support (March~)
- Operating Agency: Startup Promotion Agency, Ministry of SMEs and Startups
- 2024 Application Period: 2024.01.22(Mon) ~ 2024.02.01(Thu)
- Go directly to the 2024 recruitment announcement
3️⃣Mid-Stage Startups (3-7 Years)
Startup Growth Package
- We support the business model innovation and product/service enhancement of promising technology startups in their growth stage.
- The 2024 Startup Growth Package recruitment for startups will be divided into four types: ① Large corporation collaboration, ② General type, ③ Investment concurrent, ④ Loan concurrent. You can apply for only **one** of these types.
- Support Target: Startups in their growth stage (over 3 years and within 7 years)
- Support Details and Selection Scale
- ① Large corporation collaboration: Business funding (up to KRW 200 million), startup program / Approximately 100 ventures
- ② General type: Business funding (up to KRW 300 million), startup program / Approximately 233 ventures
- ③ Investment concurrent: Business funding (up to KRW 200 million + investment linkage), startup program / Approximately 20 ventures
- ④ Loan concurrent: Business funding (up to KRW 200 million + loan linkage), startup program / Approximately 20 ventures
- Operating Agency: Startup Promotion Agency, Ministry of SMEs and Startups
- 2024 Application Period
- ① Large corporation collaboration: 2024.01.30(Tue) 2:30 PM ~ 2024.02.23(Fri)
- ② General type: 2024.02.27(Tue) 5:30 PM ~ 2024.03.19(Tue)
- ③ Investment concurrent: 2024.02.27(Tue) 5:30 PM ~ 2024.03.19(Tue)
- ④ Loan concurrent: 2024.02.27(Tue) 5:30 PM ~ 2024.03.19(Tue)
- Go directly to the 2024 recruitment announcement
Startup-Focused Universities - Growth Stage Startups
- We support the commercialization of outstanding technology startup ideas and business models for early stage startups based on regional or university criteria.
- Support Target: Individuals who meet the designated regional or startup-focused university criteria, and are within 3 to 7 years of establishing their venture
- Support Details: Government support funds (up to KRW 300 million), startup programs, etc.
- Selection Scale: Total of approximately 102 ventures (27 university-launched startups, 75 general regional types)
- Application Schedule: Business announcement (January) > Application & Submission (January) > Evaluation & Announcement (February) > Funding Support (March~)
- Operating Agency: Startup Promotion Agency, Ministry of SMEs and Startups
- 2024 Application Period: 2024.01.22(Mon) ~ 2024.02.01(Thu)
- Go directly to the 2024 recruitment announcement
Startup Success Package - Global Startup Academy (Enrollment Recruitment)
- Supports the successful global business launch of entrepreneurs who possess innovative technologies and global startup items.
- Support Target: Businesses within 7 years of establishment ① High-growth potential startups in **cutting-edge･new industry fields** (semiconductors, mobility, robots, big data･AI, blockchain, medical devices, new renewable energy, etc.) or ② Graduates of the Youth Startup Academy or Global Startup Academy
- Support Content: Business launch funding up to 150 million won + Global 5G program (mentoring, overseas expansion preparation, investment attraction, etc.)
- Selection Scale: 60 people
- Final selected participants (enrollees) must complete domestic and international specialized programs and overseas local programs conducted at the Global Startup Academy.
- Recruitment Schedule: Business announcement (January) > Application･Reception (February) > Evaluation･Announcement (March) > Program Operation (April~)
- Operating Agency: Small and Medium Venture Business Corporation
- 2024 Application Period: Monday, January 15, 2024 ~ Wednesday, February 14, 2024
- Go to the 2024 Recruitment Announcement
4️⃣Re-Challengers
Re-Challenge Success Package
- Provides business launch funding, re-startup education, mentoring, and other support to identify (prospective) re-startups with high growth potential.
- Support Target: (Prospective) re-entrepreneurs who have a history of business closure and possess technological startup items and business plans, or representatives of businesses within 3 years of re-establishment
- Support Content: Business launch funding (up to 100 million won), growth acceleration program
- Selection Scale: Approximately 282 people (267 general type, 15 IP strategy type)
- Recruitment Schedule: Business announcement (January) > Application･Reception (February) > Evaluation･Announcement (March~April) > Business Launch Support (May~)
- Operating Agency: Ministry of SMEs and Startups Startup Policy Division/Re-Challenge Startup Team
- 2024 Application Period: February 15, 2024 ~ February 29, 2024
- Go to the 2024 Business Announcement
Hope Return Package
- Encourages re-startups for small business owners facing closure (planned).
- Support Target: Small business owners facing closure (planned) or within 1 year of re-establishment
- Regional selection based on the location of the business site or planned re-establishment site.
- Support Content: Business launch funding (up to 22 million won), business launch education, mentoring, etc.
- Selection Scale: Approximately 1,000 cases (varies by region)
- Recruitment Schedule: Announcement and application (June) > Evaluation (July) > Announcement (August) > Business Launch Support (August~)
- Operating Agency: Korea Small Business Institute
- 2024 Application Period: Friday, June 7, 2024 ~ Tuesday, June 25, 2024
••Go to the 2024 Business Announcement
⬇️Government Agencies that Provide Startup Support⬇️
K-Startup Startup Support Portal | Provides information on all government support programs, allowing you to search for customized information based on your desired criteria such as business stage and support field. Global startup support programs available. | |
Small Business Market (Self-Employed Support Portal) | Provides information on support programs, policies, and business district information systems related to small businesses/self-employed individuals. | |
Business Market | Comprehensive information portal for SMEs, where you can check support program information specialized for SMEs in one place. | |
SME Distribution Center | Provides support information on distribution channels (sales routes) and marketing for SMEs. | |
Startup Incubator Center Network System | Provides comprehensive support to increase the success rate of startups, from moving in to education, for early-stage companies (potential entrepreneurs) who have technology and ideas but face difficulties in commercialization. | |
Small Business Knowledge Learning Center | Integrated education system for small business owners, allowing you to choose and take online or offline (face-to-face) courses. | |
