On the 4th, the Ministry of SMEs and Startups announced that it has selected 1,100 challengers (500 from the general/technology track and 600 from the local track) to advance to Round 2 of the 'All-Startups Project', following a first round that attracted over 63,000 applicants.
The 1,100 participants selected for Round 2 were chosen through mentorship and evaluation processes from the 5,000 candidates initially selected in the first round of 'All-Startups', which recorded 63,000 challengers. This selection is significant as it demonstrates that 'All-Startups' continues to spark nationwide entrepreneurial enthusiasm regardless of age or region, enabling participants to achieve real business results such as securing investments and filing patent applications within just two months of starting their challenges.
Among the selected participants, young people (aged 39 and under) accounted for 64.9% of the total, forming the core group. The youngest selected participant was 15 years old, while the oldest was 72, reflecting a wide range of ages among the challengers. The youngest participant proposed an "integrated travel design platform centered on rural tourism based on a refined review crawling algorithm" and demonstrated outstanding performance by pursuing patent applications despite being a teenage entrepreneur. The oldest participant proposed "development of vitality sticks utilizing unsellable apples from Andong, Gyeongbuk," showcasing strong business drive through activities such as intellectual property research and consumer surveys.
Regional participants accounted for 80.9% of the total, with the Yeongnam region leading at 27.9%, followed by the Chungcheong region (20.1%), Honam region (19.1%), Gangwon (9.4%), and Jeju (4.4%). By sector, the general/technology track saw IT (36.2%), bio/medical (15.8%), and lifestyle (10.8%) as the top categories, while 43.2% of all challenge applications included AI-related keywords. For the local track, the leading sectors were daily life (45%), food and beverage (38.8%), and beauty (9.7%).
Notably, some of the Round 2 participants have already achieved tangible investment outcomes after being recognized for their advanced technology and growth potential. A challenger from Seoul was acknowledged for high growth potential in the AI operations management market and secured a 200 million won investment from C&Tech, an institutional investor. Another challenger from Gwangju was recognized for their technical expertise and growth potential in coreless motor technology, securing a 100 million won investment from the Gwangju Creative Economy Innovation Center, and is now pursuing TIPS linkage based on this support.
The key institutional investors responsible for mentoring and evaluating the 5,000 challengers stated that the 'All-Startups Project' has contributed to expanding diversity within the entrepreneurial ecosystem and can help improve public perception regarding entrepreneurship and investment.
Q-Nest, an institutional investor for the general/technology track, said, "We believe 'All-Startups' is contributing to expanding diversity, which has long been identified as a major challenge in our entrepreneurial ecosystem." They added, "While startup support sites have traditionally focused on familiar and proven business models, 'All-Startups' is uncovering new ideas that originate from entrepreneurs' real experiences and problem awareness." Meanwhile, People Investment stated, "We expect that if popular programs like 'All-Startups' continue, public perception regarding entrepreneurship and investment will improve significantly."
Jeonbuk Creative Economy Innovation Center, an institutional investor for the local track, said, "Challengers from diverse backgrounds, ranging from young farmers to traditional craft artisans and IT developers, participated and presented various ideas combining their unique experiences and expertise. We expect 'All-Startups' to lead to tangible outcomes in expanding the foundation of region-based entrepreneurship."
Meanwhile, the 1,100 challengers who advanced to Round 2 expressed that they gained motivation through 'All-Startups' to take on new life challenges. A challenger from Jeonbuk said, "Without this program, my time would have ended with just a few lines of experience. Thanks to the generous advice from mentors, I was able to turn it into documented activities and found direction and strength for living. I want to repay this by making it through to the final stage and creating an opportunity to formally express my gratitude someday."
A challenger from Jeju said, "Leaving my company to start a new life, 'All-Startups' became the driving force that allowed me to focus on the goal of entrepreneurship even during difficult moments. Through 'All-Startups', I will not forget the courage and perseverance I learned and will strive until the end."
The 1,100 selected challengers will receive comprehensive support ranging from initial commercialization funding, mentorship, regulatory screening, access to advanced GPUs, and guaranteed agreements to investment facilitation, enabling them to leap forward as innovative entrepreneurs. Nationwide explanation sessions for Round 2 will begin on the 7th, followed by regional and zone-based auditions, with the final selection of 200 participants scheduled for December.
Additionally, the 'All-Startups Community', a platform designed to support all aspiring and early-stage entrepreneurs, will officially launch on the 10th of this month. The program will feature successful senior entrepreneurs such as Jang Min-hong, partner at Carbon Black (former co-founder of Lunit), and Lee Dong-geon, CEO of MyRealTrip, who will directly share their entrepreneurial experiences and insights with junior entrepreneurs. It will also include various community events where participants can interact with members of the entrepreneurial ecosystem. Applications for community programs can be submitted through the All-Startups platform.
Noh Yong-seok, First Vice Minister of the Ministry of SMEs and Startups, stated, "This 'All-Startups Project' is a highly meaningful initiative that proves anyone can challenge entrepreneurship with just small ideas and problem awareness from daily life, without needing exceptional technology or credentials." He added, "We will spare no effort in supporting all selected talents through 'All-Startups' to help them leap forward as competitive innovative companies in the market, and we will work to spread a nationwide entrepreneurial culture where anyone can freely take on challenges."
[MoneyToday startup media platform 'Unicorn Factory']
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