The Small Enterprise and Market Service holds the 2026 Innovative Small Business Final Audition at SVC Seoul in Mapo-gu, Seoul, from Monday through Thursday. Pictured from left: Oh Deuk-chang, chief executive of the Sejong Creative Economy Innovation Center; In Tae-yeon, chairman of SEMAS; and Shin Jae-sik, head of SEMAS's local startup team. [SEMAS]
The Small Enterprise and Market Service holds the 2026 Innovative Small Business Final Audition at SVC Seoul in Mapo-gu, Seoul, from Monday through Thursday. Pictured from left: Oh Deuk-chang, chief executive of the Sejong Creative Economy Innovation Center; In Tae-yeon, chairman of SEMAS; and Shin Jae-sik, head of SEMAS's local startup team. [SEMAS]

Final audition runs Sept. 7–10 at SVC Seoul in Mapo-gu

80 firms advance after document screening of 1,000, regional auditions of 534

TOP 11 to be named Thursday; finalists eligible for up to 40 million won in additional support

Eighty companies have advanced to the final stage of this year's Innovative Small Business Development Program, which drew 9,422 applicants — meaning fewer than 1 percent of entrants made it to the final round.

The Small Enterprise and Market Service said Tuesday it is holding the "2026 Innovative Small Business Final Audition" at SVC Seoul in Mapo-gu through Thursday. The event is designed to select the top 11 companies from among local businesses and high-growth small enterprises that have demonstrated potential based on regional resources and business ideas.

SEMAS launched recruitment for the program in March. Of the 9,422 applicants, 1,000 were selected through a document review and each received a growth support grant of 3 million won ($2,210).

Regional auditions in June narrowed the field to 534 companies, each of which received up to 60 million won in commercialization funding. After further evaluation, 80 companies — 20 local businesses and 60 high-growth small enterprises — advanced to the final audition.

SEMAS said the overall competition ratio was approximately 117 to 1, with only 0.85 percent of the original 9,422 applicants reaching the final stage. At the audition, participating companies will present their business models and growth strategies. The top 11 will be selected and recognized on Thursday. All 80 finalists are eligible to receive up to 40 million won in additional commercialization funding based on their audition results.

Follow-up support will also be extended to the 534 companies selected this year. SEMAS plans to provide mentoring, education and networking to help refine their business models, and will assist with connecting them to private investment and opening domestic and overseas distribution channels.

The final audition takes place across multiple floors of SVC Seoul, located near Hongdae in Seoul, with programs running on the basement level, floors one through three, and the 11th floor. The basement level will host a local market featuring companies from eight regional zones across the country, while the first floor will hold a policy information booth and an exhibition of outstanding products.

Participating companies will deliver their pitches on the second-floor stage. The third floor will house a consultation space staffed by experts in investment, financing, retail and management, and the 11th floor will host a "Local Insight Talk Show" featuring influencers and business leaders.

"This final audition goes beyond selecting outstanding companies — it is a stage for discovering the potential of innovative small businesses that can grow into representative brands of South Korea," SEMAS Chairman In Tae-yeon said. "We will stand alongside them so their challenges can lead to even greater growth."


hong@heraldcorp.com