The Busan Metropolitan City, together with the Busan Startup Investment Agency, hosted the 2025 Startup Support Program Launch Ceremony and B-Startup Day on April 22 at the Asti Hotel’s Grand Ballroom. The event brought together 153 startups selected for this year’s city-funded programs.
Event Highlights
●Date/Time: April 22, 2025 (Tue), 14:00–15:40
●Venue: Grand Ballroom, 22F, Asti Hotel Busan
●Participants: Mayor Park Heong-joon, President of the Busan Startup Investment Agency, Mike Kim (Google for Startups Asia-Pacific Lead), 200 guests including 153 selected startups
●Main Program: Certification ceremony, orientation, keynote speech on global startup trends, and networking
This year marks the beginning of a centralized startup support system with the establishment of the Busan Startup Investment Agency. The system integrates previously dispersed programs into a more unified and efficient structure.
From a competitive pool of applicants, 153 startups were selected through documentation and in-depth interviews. These include:
●33 companies under the “Busan Representative Startups” program
●120 companies under the “Busan Startup Package” (Pre-startup, Early-stage, and Growth-stage)
Key Programs Introduced
1.Busan Representative Startups Program
Aimed at identifying and nurturing future unicorn companies, it features three categories:
●Bright Club (20 startups): Up to KRW 8 million in support
●Million Club (10 startups): Up to KRW 12 million for startups with annual revenue exceeding KRW 500 million
●Ace Stella (3 startups): Up to KRW 100 million for those with over KRW 500 million in accumulated investment
2.Busan Startup Package Program
Tailored to each growth stage with a four-step (S-Stage) support model:
●Pre-Startup (50 startups): Up to KRW 20 million
●Early-Stage (50 startups): Up to KRW 55 million
●Growth-Stage (20 startups): Up to KRW 50 million
Support includes business consulting, workspace, IP protection, investment attraction, and global expansion.
Remarkable Results
In 2024, Ready Robust Machine Co., Ltd., a participant in the Ace Stella program, secured KRW 7.5 billion in Series A investment.
LiveX Co., Ltd., a growth-stage startup, recorded KRW 15 billion in sales and raised KRW 5.7 billion in funding.
Since 2017, 865 startups have been recognized through this program, with 7 selected as “Baby Unicorns” or “Pre-Unicorns” by the Ministry of SMEs and Startups.
Mayor Park Heong-joon stated:
“It is meaningful to bring together 153 startups for this launch. With the new Busan Startup Investment Agency, we will fully support local startups to settle successfully and grow into the next generation of unicorns under the vision of ‘Startup City Busan.’”
This content has been translated by AI. Please refer to the attached original Korean version for accuracy if needed.
Translated by AI
Link to Busan press releases in Korean