A large number of companies (43 in total) were selected from future high-potential sectors, including Data, Network, and AI, as well as Bio and Healthcare.
Companies designated as Baby Unicorns will receive comprehensive support, including market development funding of up to KRW 300 million, special guarantees of up to KRW 5 billion, policy financing of up to KRW 10 billion, and R&D support of up to KRW 2 billion.
The Ministry of SMEs and Startups (MSS), led by Minister Lee Young, announced on the 2nd that it has selected 60 promising SMEs with the potential to grow into unicorn companies representing Korea as “Baby Unicorns.”
The “Baby Unicorn 200 Nurturing Program” aims to identify promising startups whose innovative business models and growth potential have been verified and to foster them into pre-unicorn companies (with a corporate valuation of KRW 100 billion or more). To date, the program has selected and supported a total of 100 Baby Unicorns, including 40 companies in 2020 and 60 companies in 2021.
The program seeks to discover export-oriented SMEs with innovation and high growth potential and to develop them into leading exporters through linked support such as overseas marketing and financing. Eligibility is limited to startups within seven years of founding with investment records of at least KRW 2 billion and less than KRW 10 billion. Promising startups with growth potential are evaluated and selected jointly by the public and top domestic and international private-sector experts.
This year, 284 SMEs applied, resulting in a 4.7:1 competition ratio. Through the final presentation evaluation held on May 25, involving 50 professional judges and 70 public evaluators, 60 Baby Unicorns were selected after an in-depth assessment of technological innovation and potential for growth into unicorn companies.
Among the 60 selected companies, the average age of the firms was 5.1 years, average revenue was KRW 4.64 billion, and average employment was 35.9 employees (as of March 31, 2022). Nearly half of the selected companies (46.9%, or 28 firms) received an AA rating or higher in technology and business evaluations by the Korea Technology Finance Corporation (KIBO). The average amount of investment raised was KRW 3.82 billion.
By industry, companies in the ICT sector and Data·Network·AI-based platform sectors accounted for 27 firms (45.0%), while Bio and Healthcare companies numbered 16 firms (26.7%), indicating that a large portion of the selected companies operate in future high-potential industries.
MSS will provide the selected Baby Unicorns with up to KRW 300 million in new market development funding. In addition, they may receive special guarantees (up to KRW 5 billion), policy financing (up to KRW 10 billion), and preferential treatment when participating in MSS R&D programs.
Notably, in addition to existing linked support, this year the program offers expanded support measures, including overseas expansion support, broadcast advertising support, youth employment incentives, and assistance with ESG management adoption, providing Baby Unicorns with even more comprehensive support.
Meanwhile, following the selection of these 60 Baby Unicorns, MSS plans to select and support an additional 40 companies in the second half of the year.
The 60 selected companies are as follows:
Gooroomee (CEO Rang-hyuk Lee), ExoSystems (CEO Hoo-man Lee), Nature Mobility (CEO Ju-sang Lee), N1 Tech (CEO Mo-sung Choi), Neurovis (CEO Hyung-gun Kim), LN Robotics (CEO Jae-soon Choi), The Plant Eat (CEO Jae-sik Yang), MIT (CEO Jong-myung Choi), Denhouse (CEO Kyung-hwan Kwon), MX Bio (CEO Jae-hyun Lee), Doter (CEO Hyung-il Kim), Onda (CEO Hyun-seok Oh), Designovel (CEO Ki-young Shin), Oncovix (CEO Sung-eun Kim), Lounge Lab (CEO Sung-jae Hwang), Allra Fintech (CEO Sang-soo Kim),
Light Brothers (CEO Hee-soo Kim), AllLink (CEO Kyung-dong Kim), Loanpick (CEO Jun-young Baek), Y-Tech (CEO Yong-ha Lee), Regym International (CEO Jae-il Son), Wavbridge (CEO Jong-wook Oh), MedInTech (CEO Chi-won Lee), Wayne Hills Ventures (CEO Soo-min Lee), MediHere (CEO Ki-hwan Kim), GenieWorks (CEO Ang Lee), Monolabs (CEO Tae-hwan So), Klap (CEO Sung-ho Kim), Modoo Research Institute (CEO Seung-il Kim), Teralix (CEO Tae-young Kim), Mobiltech (CEO Jae-seung Kim),
Testworks (CEO Seok-won Yoon), Monster Studio (CEO Ji-hwan Jung), Todak (CEO Gyu-sik Min), Baropharm (CEO Seul-gi Kim), Torder (CEO Sung-taek Kwon), BridgeTail (CEO Sun-jin Yoon), FastView (CEO Ha-young Oh), Bmonument (CEO Sung-yeon Ban), First Canvas (CEO Jun-soo Kim), Sharp & Company (CEO Jun-seung Lee), Pelemed (CEO Yong-cheol Kim), Sage Research (CEO Jong-woo Park), Postype (CEO Gyu-seop Shin),
Soda Crew (CEO Yoon-se Oh), Freshbell (CEO Geun-hwa Kim), Solmedics (CEO In-cheol Yang), Freewillin (CEO Ki-sung Kwon), Seedmogen (CEO Ki-rang Park), Fintell (CEO Dong-gi Kim), IoTrust (CEO Sang-soo Baek), Philophos (CEO Jung-ho Jung), Algocare (CEO Ji-won Jung), Hexa Human Care (CEO Chang-soo Han), RC Tech (CEO Tae-hwa Lim), Hexlant (CEO Jin-woo Noh), Edenlux (CEO Sung-yong Park), Haeum Labs (CEO Hyung-seok Ok), Aeon (CEO Hak-dong Yoo), and Humaster (CEO Dae-young Lee).
View the original article
- 인공지능신문: http://www.aitimes.kr/news/articleView.html?idxno=25193
- 머니투데이: https://news.mt.co.kr/mtview.php?no=2022060110094574094
- 플래텀: https://platum.kr/archives/186901
- 중소기업신문: http://www.smedaily.co.kr/news/articleView.html?idxno=231905
- 지디넷코리아: https://zdnet.co.kr/view/?no=20220602160040
- 의학신문: http://www.bosa.co.kr/news/articleView.html?idxno=2174781
- 팜뉴스: https://www.pharmnews.com/news/articleView.html?idxno=204968
- 매거진한경: https://magazine.hankyung.com/job-joy/article/202206031580d
- 블록체인밸리: http://www.fintechpost.co.kr/news/articleView.html?idxno=157623#0AXD
A large number of companies (43 in total) were selected from future high-potential sectors, including Data, Network, and AI, as well as Bio and Healthcare.
Companies designated as Baby Unicorns will receive comprehensive support, including market development funding of up to KRW 300 million, special guarantees of up to KRW 5 billion, policy financing of up to KRW 10 billion, and R&D support of up to KRW 2 billion.
The Ministry of SMEs and Startups (MSS), led by Minister Lee Young, announced on the 2nd that it has selected 60 promising SMEs with the potential to grow into unicorn companies representing Korea as “Baby Unicorns.”
The “Baby Unicorn 200 Nurturing Program” aims to identify promising startups whose innovative business models and growth potential have been verified and to foster them into pre-unicorn companies (with a corporate valuation of KRW 100 billion or more). To date, the program has selected and supported a total of 100 Baby Unicorns, including 40 companies in 2020 and 60 companies in 2021.
The program seeks to discover export-oriented SMEs with innovation and high growth potential and to develop them into leading exporters through linked support such as overseas marketing and financing. Eligibility is limited to startups within seven years of founding with investment records of at least KRW 2 billion and less than KRW 10 billion. Promising startups with growth potential are evaluated and selected jointly by the public and top domestic and international private-sector experts.
This year, 284 SMEs applied, resulting in a 4.7:1 competition ratio. Through the final presentation evaluation held on May 25, involving 50 professional judges and 70 public evaluators, 60 Baby Unicorns were selected after an in-depth assessment of technological innovation and potential for growth into unicorn companies.
Among the 60 selected companies, the average age of the firms was 5.1 years, average revenue was KRW 4.64 billion, and average employment was 35.9 employees (as of March 31, 2022). Nearly half of the selected companies (46.9%, or 28 firms) received an AA rating or higher in technology and business evaluations by the Korea Technology Finance Corporation (KIBO). The average amount of investment raised was KRW 3.82 billion.
By industry, companies in the ICT sector and Data·Network·AI-based platform sectors accounted for 27 firms (45.0%), while Bio and Healthcare companies numbered 16 firms (26.7%), indicating that a large portion of the selected companies operate in future high-potential industries.
MSS will provide the selected Baby Unicorns with up to KRW 300 million in new market development funding. In addition, they may receive special guarantees (up to KRW 5 billion), policy financing (up to KRW 10 billion), and preferential treatment when participating in MSS R&D programs.
Notably, in addition to existing linked support, this year the program offers expanded support measures, including overseas expansion support, broadcast advertising support, youth employment incentives, and assistance with ESG management adoption, providing Baby Unicorns with even more comprehensive support.
Meanwhile, following the selection of these 60 Baby Unicorns, MSS plans to select and support an additional 40 companies in the second half of the year.
The 60 selected companies are as follows:
Gooroomee (CEO Rang-hyuk Lee), ExoSystems (CEO Hoo-man Lee), Nature Mobility (CEO Ju-sang Lee), N1 Tech (CEO Mo-sung Choi), Neurovis (CEO Hyung-gun Kim), LN Robotics (CEO Jae-soon Choi), The Plant Eat (CEO Jae-sik Yang), MIT (CEO Jong-myung Choi), Denhouse (CEO Kyung-hwan Kwon), MX Bio (CEO Jae-hyun Lee), Doter (CEO Hyung-il Kim), Onda (CEO Hyun-seok Oh), Designovel (CEO Ki-young Shin), Oncovix (CEO Sung-eun Kim), Lounge Lab (CEO Sung-jae Hwang), Allra Fintech (CEO Sang-soo Kim),
Light Brothers (CEO Hee-soo Kim), AllLink (CEO Kyung-dong Kim), Loanpick (CEO Jun-young Baek), Y-Tech (CEO Yong-ha Lee), Regym International (CEO Jae-il Son), Wavbridge (CEO Jong-wook Oh), MedInTech (CEO Chi-won Lee), Wayne Hills Ventures (CEO Soo-min Lee), MediHere (CEO Ki-hwan Kim), GenieWorks (CEO Ang Lee), Monolabs (CEO Tae-hwan So), Klap (CEO Sung-ho Kim), Modoo Research Institute (CEO Seung-il Kim), Teralix (CEO Tae-young Kim), Mobiltech (CEO Jae-seung Kim),
Testworks (CEO Seok-won Yoon), Monster Studio (CEO Ji-hwan Jung), Todak (CEO Gyu-sik Min), Baropharm (CEO Seul-gi Kim), Torder (CEO Sung-taek Kwon), BridgeTail (CEO Sun-jin Yoon), FastView (CEO Ha-young Oh), Bmonument (CEO Sung-yeon Ban), First Canvas (CEO Jun-soo Kim), Sharp & Company (CEO Jun-seung Lee), Pelemed (CEO Yong-cheol Kim), Sage Research (CEO Jong-woo Park), Postype (CEO Gyu-seop Shin),
Soda Crew (CEO Yoon-se Oh), Freshbell (CEO Geun-hwa Kim), Solmedics (CEO In-cheol Yang), Freewillin (CEO Ki-sung Kwon), Seedmogen (CEO Ki-rang Park), Fintell (CEO Dong-gi Kim), IoTrust (CEO Sang-soo Baek), Philophos (CEO Jung-ho Jung), Algocare (CEO Ji-won Jung), Hexa Human Care (CEO Chang-soo Han), RC Tech (CEO Tae-hwa Lim), Hexlant (CEO Jin-woo Noh), Edenlux (CEO Sung-yong Park), Haeum Labs (CEO Hyung-seok Ok), Aeon (CEO Hak-dong Yoo), and Humaster (CEO Dae-young Lee).
View the original article
- 인공지능신문: http://www.aitimes.kr/news/articleView.html?idxno=25193
- 머니투데이: https://news.mt.co.kr/mtview.php?no=2022060110094574094
- 플래텀: https://platum.kr/archives/186901
- 중소기업신문: http://www.smedaily.co.kr/news/articleView.html?idxno=231905
- 지디넷코리아: https://zdnet.co.kr/view/?no=20220602160040
- 의학신문: http://www.bosa.co.kr/news/articleView.html?idxno=2174781
- 팜뉴스: https://www.pharmnews.com/news/articleView.html?idxno=204968
- 매거진한경: https://magazine.hankyung.com/job-joy/article/202206031580d
- 블록체인밸리: http://www.fintechpost.co.kr/news/articleView.html?idxno=157623#0AXD