![An informational overview of the Everyone's Startup Project. [Ministry of SMEs and Startups]](https://wimg.heraldcorp.com/news/cms/2026/08/19/news-p.v1.20260813.b6191283a3ed4c4da9bd6c124d90ec50_P1.jpg)
The Ministry of SMEs and Startups will begin accepting applications for the second round of its "Everyone's Startup Project" on Thursday, doubling the number of participants to be selected to 10,000 aspiring entrepreneurs.
The ministry announced Tuesday that applications will be accepted from Thursday through Sept. 17 via the Everyone's Startup platform.
The Everyone's Startup Project is a government initiative to identify and nurture entrepreneurial talent, allowing anyone with an innovative idea to pursue a startup. The first round, launched in March, drew more than 63,000 applicants — the largest turnout ever for a government startup or idea competition.
For the second round, the number of participants to be selected doubles from 5,000 to 10,000. Of those, 8,000 will be chosen through the general and technology tracks, while 2,000 will be selected through a local track focused on startup ideas that draw on regional resources.
The ministry has also lowered the bar for participation. Existing business owners looking to launch a venture in a different sector can now apply if their current business is up to seven years old, up from the previous three-year limit. However, to stay true to the program's mission of helping first-time founders, at least 80 percent of those selected will be prospective entrepreneurs. To promote startup activity outside major cities, at least 70 percent of participants will be drawn from outside the Greater Seoul area.
In line with the expanded selection, the number of startup incubation institutions will grow to around 170. New participants include Hana Bank, Shinhan Square Bridge and other large and mid-sized companies, as well as public institutions such as Korea Water Resources Corporation.
The evaluation process has also been revamped. A multi-perspective review system will be introduced, with three mentors jointly assessing each applicant, and an AI verification model will check for AI-generated content and plagiarism. Applicants rejected in the first round who are reapplying will be able to describe improvements to their original ideas in their applications, and their participation in re-challenge mentoring sessions will be factored into the evaluation as a positive consideration.
Support programs have been expanded as well. Startup activity funds can now be used for online payment gateway services, and participants will have access to around 50 AI solutions selected by experts in AI and science and technology.
The 8,000 first-stage selectees in the general and technology tracks will receive one-on-one early-stage mentoring and 2 million won ($1,410) in startup activity funds. From that group, 1,000 will advance to regional auditions and receive up to 20 million won in commercialization funding. A final cohort of 200 "startup rookies" will then be chosen. The grand prize winner of the final audition will receive a combined package of more than 1 billion won — comprising 500 million won in prize money and at least 500 million won in investment.
To mark the opening of applications, the ministry will hold a second-round information session Thursday at KT&G Sangsang Planet in Seoul, followed by a series of regional sessions across the country beginning Friday.
Cho Gyeong-won, the ministry's director general for startup policy, said the second round incorporated feedback from the field to widen the door for applicants while strengthening the support framework. "We hope those who are not afraid of failure and want to bring their ideas to the world will step forward without hesitation," Cho said.
Meanwhile, the Everyone's Startup Project drew controversy during its first round after a data breach exposed applicants' personal information. The ministry issued repeated apologies, referred the case to police for investigation and took steps to identify the cause and prevent a recurrence. The second round addresses those shortcomings with enhanced personal data protection and tighter platform security.
boo@heraldcorp.com
