South Korea Expands Youth Startup Support, Doubling First-Round Cohort to 10,000

South Korea’s Ministry of Small and Medium Enterprises and Startups announced a major expansion of its ‘Everyone’s Startup’ initiative, doubling the second cohort’s first-round selection scale to 10,000 participants.

What happened

• On September 8, 2026, South Korea's Ministry of Small and Medium Enterprises and Startups (MSS) held a field communication event at Dankook University's Jukjeon Campus.
• Second Vice Minister Lee Byung-kwon announced that the Round 1 selection scale for the second 'Everyone's Startup' cohort will double to 10,000 participants.
• The decision follows the first cohort, which attracted roughly 63,000 applicants, with 1,100 advancing to Round 2.
• The ministry plans to increase budget support to help young entrepreneurs turn ideas into concrete business models.

Why it matters

South Korea's government is directly visiting university campuses to listen to student founders through 'Everyone's Startup' (Modu-ui Changeop), a platform designed to lower the risk of early business failure. Participants receive expert mentoring and market evaluation to test commercial viability. For instance, Lee Jun-won, a senior in Materials Science and Engineering at Dankook University, advanced to Round 2 with an idea for manufacturing biochar fertilizer from agricultural by-products—a project inspired by observing his grandmother's farming struggles.

The numbers

According to ministry data released on September 10, 2026, approximately 63,000 people participated in the first cohort, with 1,100 advancing to Round 2—a calculated advancement rate of roughly 1.75% (1,100 qualifiers ÷ 63,000 applicants × 100 = 1.746%). The second cohort significantly lowers the barrier by selecting 10,000 people in Round 1.

Fact-check

• Claim: Over 10% of participants in the first cohort advanced to Round 2.

MISLEADING. Ministry figures published on September 10, 2026, show that out of roughly 63,000 participants in the first cohort, 1,100 advanced to Round 2, representing an advancement rate of approximately 1.75%.

• Claim: Second Vice Minister Lee Byung-kwon promised to reduce the burden of failure for young entrepreneurs.

TRUE. Vice Minister Lee stated that the government will strengthen support so young adults can take on challenges with less fear of failure and lower entry barriers based on feedback from the field.

• Claim: The total budget for the second cohort was made public during the event.

UNVERIFIED. The official event summary listed the budget amount for the second cohort as undisclosed.

What's next

• Ongoing Campus Tour: The ministry will continue its nationwide university tour to inform students of entrepreneurship opportunities.
• Policy Integration: Feedback collected from university students during the tour will be reflected in future government startup policies.
• Increased Budget: The ministry plans to expand the overall budget allocation for 'Everyone's Startup' in the upcoming year compared to the current year.

Sources

1. 대학의 아이디어가 창업으로2차 「모두의 창업」 단국대 현장소통 — 중소벤처기업부 보도자료
2. 아이디어 — Wikipedia (ko)