South Korea expands startup support through regional auditions and festivals

South Korea is expanding its support for early-stage entrepreneurs through various regional initiatives and startup festivals. The Ministry of SMEs and Startups is launching regional auditions for its ‘Everyone’s Startup’ project across 17 cities and provinces. This phase aims to select 200 participants from an initial pool of 500 challengers to advance to regional auditions. Selected individuals will receive 10 million won in commercialization funds and mentorship. Previous participants in this project have successfully secured approximately 2.9 billion won in private investment.

In Busan, the Busan Creative Economy Innovation Center supported seven early-stage companies during the ‘BOUNCE 2026’ festival at BEXCO. The program provided tailored opportunities including exhibition booths, investor meetups, and Investor Relations (IR) presentations. Participating companies showcased diverse technologies, ranging from eco-friendly materials made from oyster shells to healthcare solutions based on ECG data. These initiatives are designed to help startups bridge the gap between product development and market entry by facilitating direct networking with investors and potential customers.