Science ministry proposes youth AI startup contest for 2027

The science ministry said it proposed holding a competition for youth AI startups in the first half of 2027. In a competition that began recruiting in July, 268 companies applied, producing a 33.5-to-one competition ratio.

On Aug. 13, the ministry visited Venturium, a youth AI startup incubator operated by the Korea Telecommunications Operators Association, and held a discussion with young entrepreneurs. Six youth AI startups, venture capital firms and accelerators attended. Participants requested access to GPU infrastructure early in a company's development, mentoring from experienced entrepreneurs and an expanded competition.

Since last year, the ministry and KTOA have used an investment-discovery competition to identify early-stage AI ventures. The program offers investment links, mentoring, office space and opportunities to take part in overseas investor-relations events through Venturium. KTOA and South Korea's three mobile carriers jointly operate the platform using resources from the Korea IT Fund, which the carriers contributed to.

The ministry said it will reflect views from the session in future policies and competition operations, while expanding investment links and growth support. "Young AI entrepreneurs are the future of South Korea's AI industry and key players in advancing South Korea's global AI competitiveness," Second Vice Minister Ryu Je-myeong said. "We will put in place a range of support so that young entrepreneurs with innovative technologies and a spirit of challenge can develop their technologies freely and without difficulty and advance into global markets."