South Korea

K-Metaverse – A Tailored Programs to Strengthen the Global Capability

The Ministry of Scienc, ICT and the National IT Industry Promotion Agency (NIPA) will develop K-metaverse companies with global competitiveness in mass through support for Korea’s metaverse and XR content focused companies. That in their tailored program, K-Metaverse or Korea Metaverse.

This business is a systematic part of the New Metaverse Industry Leading Strategy announced jointly by the entire government this January. The program is focused on developing global specialists that can lead the future metaverse industry. Currently, Korean startups and SMEs are struggling not only in adapting to the metaverse centered changes in businesses, but also in investments. This business is expected to industrialize systematically and professionally, as well as provide new opportunities for growth.

K META 로고 01 1 K-Metaverse - A Tailored Programs to Strengthen the Global Capability

The Global Capability Improvement Support Business which has a scale of 9 billions dollars, categorizes companies hoping to expand overseas based on stages of growth, separating them into initial entry, mid-term takeoff, and leading expert companies. In addition, a total of 70 companies (initial entry-30, mid-term takeoff-30, leading expert-10) will be selected, and the global competitiveness of Korean metaverse and XR content related companies will be secured through programs tailored by stage.

In particular, applicants will be provided with various support programs for expanding into foreign markets, such as technology development, manpower matching, investment attraction, as well as other various consulting programs

Initial entry companies will be supported with crowdfunding and content marketability verification programs to help secure initial investments, and mid-level takeoff companies will be supported with discovering and matching with overseas sources of demand, as well as receiving business opportunities. Finally, leading expert companies will receive focused support with business funds for things like joint collaboration between Korean platform companies and overseas content companies.

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Leo Thevenet is a technology enthusiast and a devoted fan of the startup world. His journey began after completing his Bachelor's degree in Software Engineering in France. However, it was his experience earning a Master's degree in IT from the prestigious Tsinghua University in Beijing, China, that truly ignited his passion for innovation and entrepreneurship. With an insatiable desire to learn and share, Leo brings you the latest updates and insights on the startup scene. His enthusiasm for global innovation knows no bounds, and you'll often find him attending and covering major startup events worldwide. From CES and Web Summit to Slush and beyond, Leo is your go-to source for news and trends in the tech industry. Thanks to a strategic partnership with a government association in South Korea, Leo also delivers exclusive updates on cutting-edge innovations from the region. Stay tuned to Startup World to benefit from Leo's wealth of knowledge and expertise as he continues to explore the ever-evolving landscape of startups and technology.

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