South Korea launches startup community to connect new entrepreneurs

South Korea's Ministry of SMEs and Startups has officially launched the ‘Everyone’s Startup Community,’ a program designed to foster continuous exchange between prospective entrepreneurs, early-stage founders, and experienced mentors. The community features three main pillars: ‘Clubs with Seniors’ for sharing practical know-how, ‘Clubs Made Together’ for peer feedback among similar-stage challengers, and regional community events to build local networks.

Approximately 60 veteran entrepreneurs, including leaders from companies such as Elice, T-order, and Glow Seoul, have been appointed as club leaders to guide new participants. The initiative aims to move away from isolated problem-solving toward a collaborative ecosystem.

Parallel to this community launch, the second phase of the ‘Everyone’s Startup Project’ saw a record 92,838 applicants. While the total number of applicants increased by nearly 30,000 compared to the first phase, the competition rate decreased from 12.6:1 to 9.3:1 due to the government doubling the selection quota to 10,000 participants. The project has seen significant budget expansions, with a planned increase in the government budget for next year to support the growth of next-generation innovators.