74 firms to be selected — most among 4 designated cities; up to 400 million won ($263,000) in commercialization funding available
Daejeon city announced Monday it is accepting applications from companies wishing to join the 2026 Startup City Project, an initiative aimed at narrowing the startup ecosystem gap between the Greater Seoul area and other regions while strengthening local entrepreneurship.
The Startup City Project is a new program launched this year by the Ministry of SMEs and Startups. Four metropolitan cities — Daejeon, Gwangju, Daegu and Ulsan — have been designated as startup cities under the initiative.
Daejeon will select 74 companies through the project, the most among the four designated cities. The program operates under two tracks — the Investment-Linked Startup Package and the Regional Startup Package — with the latter's new-industry category offering up to 400 million won ($263,000) in commercialization funding, the highest level of support among the Ministry of SMEs and Startups' startup commercialization programs.
The Investment-Linked Startup Package targets early- and growth-stage startups with a track record of attracting investment. A total of 31 companies will be selected: 18 early-stage firms will receive up to 80 million won each, while 13 growth-stage firms will receive up to 150 million won each.
The Regional Startup Package supports startups already based in Daejeon or those planning to relocate there. Firms in new-industry sectors can receive up to 400 million won, while those in general sectors are eligible for up to 250 million won. A total of 43 companies will be chosen — 27 under the regional growth category and 16 under the regional relocation category.
The Regional Startup Package also allows concurrent participation with other startup commercialization support programs, meaning companies already enrolled in existing support programs are eligible to apply.
Startups in Daejeon's three priority industries — new drug development and biotech, space and defense, and AI and robotics — will receive one bonus point during the document screening stage. Additional preferential treatment applies to founders with a research institute background (three points), companies that have already relocated to the region (three points), and special zone operators (one point).
Applications are open from Monday through 3 p.m. on July 7 via the K-Startup website. Final selections will be announced in late July following document and presentation evaluations, with funding disbursements beginning in August.
Selected companies will receive commercialization funding as well as access to regional growth programs operated by the Daejeon Creative Economy Innovation Center, including technology demonstration support, investment attraction assistance, and global market development.
kwonhl@heraldcorp.com
