The Ministry of SMEs and Startups announced that it will start recruiting companies to participate in the ‘Baby Unicorn Support Project Profit Growth Track (hereinafter, Profit Growth Track)’ for venture corporations that are growing based on sales and revenue without attracting investment from July 1.
The Profit Growth Track is a new support project designed to discover excellent venture corporations that create substantial sales and profits and foster them into venture corporations worth 1 trillion won.
The target support recipients are venture corporations with sales between 20 billion won and 60 billion won that are in the growth stage, having moved beyond the initial startup phase, and that have secured investments of less than 2 billion won for 4 to 10 years.
Selected corporations can receive innovative funds of up to 300 million won for digital transformation (DX) and AI transformation (AX), as well as special guarantees of up to 5 billion won. Additionally, tailored follow-up support for global growth strategies, exports, and marketing can also be utilized in a package format by matching with field experts.
The Profit Growth Track can be applied for from July 1 to July 14, with document evaluation and presentation evaluation to select a final 20 companies in August.
Kim Bong-deok, director of venture policy at the Ministry of SMEs and Startups, said, “Although there are no significant investment attraction results, there are ‘profit growth ventures’ that are growing through their own sales and revenue, and tailored support for them is necessary.” He added, “Through this project, we will actively support profit growth ventures to grow into venture corporations worth 1 trillion won.”