Busan Opens New Era of Startup Ecosystem Takeoff

Busan Embraces a New Wave of Innovative Technology: 2025 Startup Support Project Launched, B-Startup Day Successfully Concluded A surge of innovation and ideas sprang forth on Busan's vibrant coast. On the 22nd, the '2025 Busan Startup Support Project Launch Ceremony, B-Startup Day' was successfully held at Busan Asti Hotel, signaling a new leap forward for Busan's startup ecosystem. Co-hosted by Busan City and the Busan Technology Startup Investment Agency (Changtuwon), the event was attended by over 200 people, including Busan Mayor Park Heong-joon, Changtuwon Director Seo Jong-gun, and representatives from 153 promising startup companies selected for this year's project, adding to the fervent atmosphere. This year's launch ceremony holds special significance. It marks the first step in unifying Busan's startup support system and strengthening inter-project linkages, following the establishment of Changtuwon. The integrated public announcement for 'Busan Representative Startup Companies' and 'Busan Startup Package Project' last month recorded a high competition rate of 6.2:1 on average, demonstrating strong interest from applicants. The 153 companies finally selected through fierce document and in-person evaluations will now receive Busan's full support. Particularly noteworthy is the direct participation of private investors, including the Early-Stage Investment Accelerator Association and the Korea Venture Capital Association, in the selection process, which increased the potential for practical investment linkage beyond mere support. One of the core projects, 'Busan Representative Startup Companies,' is a program that discovers and fosters promising companies with innovative technologies. A total of 33 companies were selected, including 20 for the Bright Club, 10 for the Million Club, and 3 for Ace Stella. These companies will receive up to 100 million won in commercialization funds and various membership benefits according to their growth stage. Having discovered a total of 865 companies since 2017, Busan City has already achieved the remarkable feat of growing 7 companies into 'Baby Unicorns' and 'Preliminary Unicorns'. Furthermore, through the 'Busan Startup Package' project, a total of 120 companies (50 for the Preliminary Startup Package, 50 for the Early Startup Package, and 20 for the Startup Jump Package) will be selected across preliminary, early-stage, and growth-stage phases to receive customized support. A wide range of benefits for tangible growth awaits them, including up to 55 million won in commercialization funds, professional consulting, comfortable office spaces, and investment attraction linkages. Busan City's startup support has already led to brilliant achievements. Last year, Ready Robust Machine, an Ace Stella selected company, successfully attracted 7.5 billion won in investment, while LiveX, a Startup Jump Package selected company, achieved a dazzling record of 15 billion won in sales and 5.7 billion won in investment attraction. This clearly demonstrates that Busan City's support goes beyond mere financial aid, directly leading to the actual growth of companies and the strengthening of their market competitiveness. The companies selected this year are expected to be actively connected with domestic and international investors and industry networks through the Busan Startup Portal and Changtuwon website. This is anticipated to serve as a strong bridgehead for Busan's startup companies to expand into the global market. A highlight of the launch ceremony was the special lecture by Mike Kim, Head of Google for Startups Campus Asia-Pacific, on 'Global Startup Trends and Success Strategies,' which garnered significant positive response. The subsequent networking session and business orientation provided a venue for information exchange and cooperation among participating companies, making it a meaningful time to strengthen the cohesion of Busan's startup ecosystem. Busan Mayor Park Heong-joon remarked, "This is a meaningful occasion where 153 promising startup companies have gathered," emphasizing that Busan will spare no effort in providing full support for promising startups to grow into unicorn companies under the vision of 'Busan, Asia's Startup City,' using the launch of Changtuwon as a stepping stone. Busan will continue to build a more robust growth ladder for startups and take strong steps towards becoming a global startup city.