206 consortiums applied, recording a 41-to-1 competition ratio; up to 20 billion won in support linked to prior VC investment

Noh Yong-seok, first vice minister of the Ministry of SMEs and Startups (right) [Ministry of SMEs and Startups]
Noh Yong-seok, first vice minister of the Ministry of SMEs and Startups (right) [Ministry of SMEs and Startups]

South Korea's Ministry of SMEs and Startups has selected seven "deep tech dream teams" in national strategic technology sectors including semiconductors, small modular reactors and aerospace. The government plans to channel large-scale research and development funding into promising technologies that have already secured private venture capital investment, with the aim of nurturing the next generation of unicorn companies.

The ministry held a launch ceremony Wednesday at SVC Seoul in Mapo-gu, Seoul, for seven preliminary research project teams selected under its Ecosystem Innovation Deep Tech Challenge Project, known as DCP.

The Ecosystem Innovation DCP is a large-scale initiative designed to identify and intensively support breakthrough technologies with the potential to reshape market dynamics. A defining feature of the program is its consortium structure, which brings together small and medium-sized enterprises, large corporations, universities and government-funded research institutions. Unlike conventional government support programs that distribute R&D funding broadly, the DCP concentrates follow-on support on technologies whose growth potential has already been validated by private investors.

Through this approach, the government aims to reduce investment in technologies with limited commercial viability and instead cultivate globally competitive deep tech companies by aligning private investment with policy funding. Companies that have secured at least 3 billion won ($1.95 million) in prior investment from venture capital firms or other private investors are eligible to receive up to 20 billion won in R&D funding over a maximum of four years.

The open call drew 206 consortium applications, producing a competition ratio of 41 to 1. The ministry evaluated applicants through panels of technology experts, investment specialists and public reviewers before selecting the final seven consortiums. The chosen projects span seven fields: space medicine, semiconductors, energy, biohealth, displays, secondary batteries and aerospace.

In the space medicine category, "Space Pharm," led by Spacelyntech, was selected for its goal of building a drug development and pharmaceutical manufacturing platform using the microgravity environment of space. In semiconductors, "ThermaNexus," led by Lambda Micro, will work on developing next-generation thermal process technology.

In energy, RX will pursue the development of a light-water heat-supply SMR. In biohealth, Omics AI will build an AI-based antibody therapeutics development platform. The remaining projects cover next-generation perovskite-based displays, commercialization technology for all-solid-state batteries, and a space data center built on a satellite constellation.

The seven selected project teams will conduct preliminary research over the next four months to verify their technological and commercial viability. The ministry will then select the top five projects that demonstrate the strongest originality and business potential for full-scale support.

"If this project is carried out successfully, it will strengthen the competitiveness of national strategic industries such as semiconductors, SMRs and aerospace, and contribute to securing technological sovereignty that leads global supply chains," first Vice Minister Noh Yong-seok said. "We will concentrate up to 20 billion won in support on the final selected projects to help them grow into ultra-gap unicorn companies."


boo@heraldcorp.com