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Seoul Vision 2030 Fund to pool in 3.7 billion USD to promote unicorn

South Korea

The Seoul Metropolitan Government (SMG) announced to promote its four-year fund formation efforts for the Seoul Vision 2030 Fund starting this year until 2026.

The city will pool in ₩1+ trillion this year with an aim of reaching ₩5 trillion in total funds to strengthen the city’s startup environment for future industries such as artificial intelligence (AI), biomed, fintech, and robotics, investing in innovative startups to grow into unicorns.

The Seoul Vision 2030 Fund will encompass a total of six fields to help startups and venture capitalists (VCs) overcome financing difficulties.

Budgeting plan for the Seoul Vision 2023 Fund(unit: ₩100M)

CategoryTotalScaleupDigital transformationStartup supportBiomedContent/
culture
First steps
Open innovationGlobalDigitalRoboticsRenewalGeneral
Goal10,6501,3751,3752,0008001,2001,9001,500500
SMG70010010050504060100100100

※ Scaleup (open innovation) and startup support (renewal) investments achieved in 1H 2023

The city will invest ₩70 billion from its budget and pool in government and private investment funds to secure ₩1.65 trillion in total within this year. The raised funds will be used to invest intensively in innovative companies throughout their entire life cycle of business growth.

To apply as a beneficiary, visit the official SMG website (seoul.go.kr) and Seoul Business Agency website (sba.seoul.kr), and submit the required documents by the application deadline.

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