Ministry of SMEs and Startups to Focus Support on 'Prepared Startups' at CES; U.S. SVC Fully Operational

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Noh Yong-seok, the First Vice Minister of SMEs and Startups, announced plans to improve exhibition participation strategies by organically arranging small and medium-sized enterprises (SMEs) and venture startups at CES to increase visitor engagement. Additionally, the ministry intends to open a Startup Venture Campus (SVC) in Silicon Valley to reduce the burden on K-startups entering the U.S. market.

Noh (Vice Minister) met with Money Today's startup media platform "Unicorn Factory" at the "K-Startup Integrated Pavilion," one of the Korean pavilions at the Las Vegas Venetian Convention Center where CES 2026 was held, on the 7th (local time), stating, "First, a more strategic approach is needed for booth construction within the Korean pavilion, and second, there is a need to provide concentrated support for better-prepared startups."

The CES, held annually in January, is the world's largest IT and electronics exhibition, where hundreds of domestic SMEs (small and medium-sized enterprises) and venture startups participate each year. The industry has long pointed out that because support institutional investors recruit startups to participate individually, there is a weakening of technological and business similarities, and the so-called linked traffic, where buyers and investors visit additional booths nearby, does not occur.

Noh (Vice Minister) said, "We will pursue various measures, such as closely arranging companies with similar technologies or business models and reflecting technology trends in booth configurations." He added, "Rather than focusing on very early-stage startups, we need to concentrate support on startups that have completed prototype (MVP) development to maximize participation effects, including securing demonstration opportunities and identifying local partners." He also noted that he gathered relevant opinions from companies participating in CES.

Noh (Vice Minister) stated that domestic AI startups were impressive, including CityFive, which won the CES 2026 Top Innovation Award. CityFive showcased a wearable AI interface product supporting real-time LLM inference.

Noh (Vice Minister) stated regarding the SVC, which marks the first integration of dispersed Ministry of SMEs and Startups overseas bases, that it aims to provide comprehensive support ranging from office space provision to business matching with local companies and investors, as well as investment attraction through fund formation. The initiative will also collaborate with the Korean-American startup community to reduce the burden on domestic startups entering foreign markets.

In connection with this, the Ministry of SMEs and Startups held an opening ceremony for SVC on the 9th. The facility will house public institutional investors including Korea Venture Investment Corporation, the Small and Medium Business Administration, the Startup Support Agency, and the Technology Credit Guarantee Fund, as well as private venture capital firms (VC). Attendees at the ceremony included Noh (Vice Minister), Consul General Lim Jeong-taek of San Francisco, Jung Nam-yi, executive director of the Asan Foundation, Kim Nam-sun, head of Naver's strategic investment division, and Jung Ho-geun, vice president of Hyundai Motor.

On this day, SVC signed memorandums of understanding (MOUs) with Asan Foundation (Maru SF) regarding facility (accommodation) usage and joint IR, with Naver regarding the establishment of a joint cooperation fund, and with Hyundai Motor Company regarding startup exchanges.

Noh (Vice Minister) also met with companies that have expanded into Silicon Valley and local startups to discuss directions for overseas expansion policies. The visit included a stop at Imprimed, which uses AI technology to predict the efficacy of personalized cancer drugs, where he heard from the company's Lim Jeong-won (CEO) about the global startup process and challenges faced.

Meanwhile, the Ministry of SMEs and Startups announced that HP will participate in the "Round X" program starting this year, which aims to help domestic startups grow by encouraging overseas large corporations to support them. HP also plans to operate its own open innovation program, "HP Garage 2.0," in Korea.

[Money Today Startup Media Platform Unicorn Factory]