SMEs Ministry to Support 20 Startups Utilizing Public Data…Up to 100 Million Won Each

Applications Accepted Until August 31

The Ministry of SMEs and Startups will provide up to 100 million won per company to enable startups to utilize data held by public institutions for the development of new businesses and services.

Signboard of the Ministry of SMEs and Startups in Sejong City. The Asia Business Daily DB

On August 10, the Ministry announced that it will be accepting applications for collaboration projects under the “Public Data Utilization Support” program, which helps startups with proof-of-concept (PoC) testing and commercialization by leveraging public data, from August 11 to August 31.

The Public Data Utilization Support program is a new initiative launched by the Ministry this year. The core goal is to support startups by combining data owned by public institutions with innovative startup technologies to enable entry into new business sectors, address social issues, and drive innovation in public services.

The program operates under two approaches: a top-down model, where public institutions propose projects, and a bottom-up model, where startups propose projects.

In the top-down model, public institutions suggest collaborative projects for innovation in public services based on open data, and startups are matched to solve them. In the bottom-up model, startups directly propose collaboration projects that utilize unpublished data from public institutions. Subsequently, in cooperation with the “Corporate Public Data Problem-Solving Support Center” of the National Information Society Agency, the opening and use of necessary data is facilitated.

Through this announcement, the Ministry plans to select and match around 20 startups that will utilize data held by public institutions to enter new business areas, address social issues, or innovate public services. Each selected company will receive up to 100 million won to cover expenses needed for collaboration, such as technology verification and prototype development.

Collaboration projects will be accepted until the end of this month, and the Ministry will select final projects through an evaluation process in early September. Following that, a process including startup recruitment, document screening, meetups between public institutions and startups, and presentation evaluations will take place, with formal agreements to be signed and full-scale collaboration beginning from October.

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