The Ministry of SMEs and Startups (MSS) has announced the launch of its “Public-Private Collaboration Project for Open Innovation” for the second half of 2025, with applications opening from July 24 to August 18. 

The program represents a significant expansion of South Korea’s open innovation ecosystem, introducing a new follow-up support track alongside the existing collaboration framework.

The initiative targets large enterprises, medium-sized companies, and public institutions seeking to collaborate with startups to enter new markets and drive innovation. What sets this program apart is its comprehensive approach to addressing the complete open innovation lifecycle, from initial matching to commercialization.

Traditionally, open innovation support programs have provided limited, one-time assistance focused primarily on early-stage collaboration. This fragmented approach often failed to generate substantial commercialization outcomes, as open innovation projects typically require sustained support through multiple phases of development, including project planning, partner matching, technology verification, and market entry.

To remedy this gap, MSS is implementing a step-by-step support system that connects previously scattered open innovation programs across various institutions. The newly introduced “follow-up support track” specifically targets demand companies and startups that have already demonstrated collaboration compatibility and commercialization potential through initial open innovation programs operated by both public institutions and private enterprises.

The program will select approximately 20 collaboration teams through this application process. Selected startups will receive substantial financial support, with collaboration funding reaching up to 60 million Korean won per team. Beyond financial assistance, participants will access customized support services including specialized consulting and targeted training programs designed to enhance collaboration effectiveness.

The program’s comprehensive nature extends to additional research and development opportunities. Participating startups will be eligible for MSS’s Startup Growth Technology Development Program, offering up to 200 million won over 1.5 years, and the Purchase-Linked R&D Program, providing up to 600 million won over two years. These additional funding streams ensure that promising collaborations can scale effectively from proof-of-concept to market deployment.

The application process has been streamlined across two dedicated platforms. Companies interested in the “new collaboration type” can submit applications through the Daegu Startup Hub portal, while those seeking “follow-up collaboration type” support can apply via the K-Startup portal. Complete program details and application guidelines are available on the MSS official website.

Director General for Startup Policy CHO Kyung-won emphasized the strategic importance of this integrated approach, stating that the ministry expects to “enhance the effectiveness and efficiency of support by linking open innovation support programs.” He further highlighted the program’s broader economic objectives, explaining that MSS aims to “establish a continuous support system based on the performance at each stage of open innovation to promote ‘growth for all’ through open innovation.”

This initiative reflects South Korea’s commitment to fostering a more mature and effective open innovation ecosystem. By addressing the critical gap between initial collaboration and successful commercialization, the program positions South Korea as a leader in systematic innovation support, potentially serving as a model for other nations seeking to optimize their startup-corporate collaboration frameworks.