South Korea Plans to Support 10,000 AI and Deep Tech Startups Over Next Five Years

The South Korean government aims to nurture 10,000 ventures and startups in artificial intelligence and deep tech over the next five years as part of its growth strategy. The Ministry of SMEs and Startups, along with other ministries, announced this initiative as a blueprint to position the nation among the world's top four venture powerhouses.

The government plans to leverage 50,000 GPUs from Nvidia for research and development, focusing on AI, bio, contents, defense, energy, and advanced manufacturing by 2030. Additionally, the plan includes the creation of 50 unicorns, startups valued over $1 billion, and decacorns valued over $10 billion, targeting an annual entry into the global venture capital market worth 40 trillion won ($27 billion).

The government will provide up to 100 billion won in investments and guarantees for each unicorn and decacorn, totaling 13.5 trillion won by 2030. The initiative also seeks to enhance public sector procurement from venture companies.