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.
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.