10,000 Innovative Entrepreneurs Selected... 'Startup for Everyone' Second Round Officially Launches

“Startup for Everyone” Second Round Officially Launches
Events Held Simultaneously Across All 17 Cities and Provinces... First-Round Achievements and Experiences Shared

The startup journeys of 10,000 challengers selected from more than 93,000 applicants for the second “Startup for Everyone” project have begun.

The Ministry of SMEs and Startups said on October 20 that it had held the launch ceremony for the second “Startup for Everyone” initiative at Startup Venture Campus (SVC) Seoul and was officially kicking off the program with 10,000 challengers who passed the first round.

More than 120 people attended the ceremony, including the Minister of SMEs and Startups, first- and second-round selectees, mentor organizations, and veteran entrepreneurs. Alongside the main event in Seoul, events were held simultaneously across all 17 cities and provinces nationwide. A live YouTube broadcast also shared the startup spirit with people across the country.

More than 93,000 people applied for the second “Startup for Everyone” program, far exceeding the approximately 63,000 applicants for the first round. The 10,000 selected challengers will receive support such as startup activity funding, professional mentoring, and AI (artificial intelligence) solutions to develop their ideas and increase their potential for commercialization.

Lee Soyoung, Minister of SMEs and Startups, delivers remarks at the Second Startup for All Launch Ceremony held at Startup Venture Campus (SVC) Seoul in Mapo-gu, Seoul, on the 20th. Ministry of SMEs and Startups.

In the first “Startup for Everyone” program, which is currently underway, some challengers have achieved tangible results, including attracting investment and filing patent applications through mentoring and business development. Community activities have also given challengers opportunities to share their experiences and concerns, helping lower the psychological barriers to starting a business and foster a culture of entrepreneurship.

At the main event, the lead mentor delivered an overall assessment of the judging, followed by words of support and encouragement from veteran entrepreneurs. A panel discussion was also held, during which the Minister of SMEs and Startups and first- and second-round challengers discussed the direction of startup policy and their individual business ideas.

Jeong Seungkyung, CEO of IEL Institute, who served as a lead mentor, said of this year’s challengers, “Their problem definition and real-world applicability stood out more than the sophistication of their technology.” Baek Sangil, CEO of Creed Partners, said, “I hope the challengers will grow into distinctive brands that make use of local resources through the Startup for Everyone project.”

Some participants who had received mentoring for reapplicants after the first round stood out for trying again in the second round. One challenger proposed turning discarded grape byproducts into soap, saying, “I will become an entrepreneur who sees it through to the end despite the difficulties, so I can create a local soap brand using Korea’s high-quality ingredients.”

After the main event, regional orientations were held across all 17 cities and provinces. The challengers received information on key aspects and schedules of upcoming support programs and took part in networking sessions with mentor organizations, officially beginning their startup activities.

Minister of SMEs and Startups Lee Soyoung said, “Each of the 10,000 challengers here will be a leading figure in shaping the future of the Republic of Korea. We will be a steadfast source of support, backing them through every stage of starting a business so they can try freely, learn from failure, and try again.”

This content was produced with the assistance of AI translation services.