The ‘Everyone’s Startup Project’ aims to support aspiring founders with funding, mentoring, and resources.
Category: Business
SEOUL — The South Korean government has officially launched the ‘Everyone’s Startup Project,’ a nationwide initiative aimed at nurturing 5,000 aspiring entrepreneurs. Announced on March 25, 2026, by Han Seung-sook, the Minister of Small and Medium-sized Enterprises and Startups, the project seeks to empower individuals with innovative ideas to establish their own businesses.
The recruitment for this ambitious project began on March 26 and will run until May 15, 2026. The initiative is part of a broader strategy to cultivate a national startup ecosystem, allowing anyone with a viable business idea to access state support. Han emphasized that this project marks a shift from complex selection processes to a more inclusive approach where the government directly invests resources into potential entrepreneurs.
The project is divided into two main tracks: the General and Technology Track, which will accommodate 4,000 participants, and the Local Track, which will cater to 1,000 participants. This dual structure aims to balance the needs of tech-driven startups with those that leverage local resources and characteristics.
Participants selected for the General and Technology Track will receive an initial startup fund of 2 million won (approximately $1,500), along with practical support that includes mentoring from over 500 experienced entrepreneurs, AI solutions, regulatory screening, and potential follow-up business funding of up to 100 million won (around $75,000). The project’s highlight is its final audition, where the top startup will be awarded a maximum prize of 500 million won (about $375,000) and additional investment opportunities, totaling over 1 billion won (approximately $750,000).
Meanwhile, the Local Track will provide similar support to participants with business ideas that utilize local resources. Winners from this track will also receive substantial rewards, including up to 100 million won (around $75,000) and follow-up investment connections.
To facilitate this initiative, the Ministry has launched the ‘Everyone’s Startup Platform,’ an online hub where participants can find information about mentoring organizations, track schedules, and connect with mentors. This platform is not just a registration portal but also includes a social media-like feed feature that allows interaction among entrepreneurs, mentoring institutions, and industry leaders.
“If you are considering starting a business, I encourage you to take this opportunity to challenge your potential,” stated Jo Kyung-won, the Director of Startup Policy at the Ministry. “We aim to create an environment where anyone can pursue entrepreneurship without fear of failure, contributing to the establishment of a startup nation.”
The Ministry will also host a series of offline information sessions across 16 regions starting April 2, 2026, to provide detailed guidance for interested applicants.
The ‘Everyone’s Startup Project’ is seen to boost entrepreneurship and to promote regional economic growth by ensuring that at least 70% of the selected participants come from non-capital areas, thereby addressing the imbalance between urban and rural startup opportunities.
This initiative follows the government’s earlier announcements aimed at fostering a new era of entrepreneurship, reinforcing its commitment to invest directly into the potential of its citizens. The project responds to the growing need for innovative solutions and economic resilience, particularly following the challenges posed by recent global economic shifts.
With a comprehensive support system and a clear pathway for aspiring entrepreneurs, the South Korean government hopes to cultivate a vibrant startup culture that can lead to sustainable economic growth and job creation across the nation.