TLDR: South Korea’s Ministry of SMEs and Startups (MSS) has launched a $1.2 billion funding round for its NEXT UNICORN Project, drawing unprecedented interest from venture capitalists. This initiative, part of the national Mother Fund program, specifically targets scale-stage investments in emerging artificial intelligence and deep technology startups, receiving 61 dedicated proposals out of 98 total submissions.
SEOUL, South Korea – The South Korean government’s commitment to fostering innovation in cutting-edge technologies has reached a new milestone with the opening of a $1.2 billion funding round for the ‘NEXT UNICORN Project.’ This initiative, spearheaded by the Ministry of SMEs and Startups (MSS) under its national Mother Fund program, has garnered significant attention from the venture capital community, marking the largest funding call to date.
In its second call for fund formation in 2025, the MSS received a remarkable 98 venture capital fund proposals, collectively amounting to approximately ₩1.6 trillion KRW, equivalent to about $1.2 billion USD. A substantial portion of this interest, with 61 proposals, was specifically directed towards the newly introduced NEXT UNICORN Project. This specialized track is designed to provide scale-stage investment for promising startups in the critical fields of artificial intelligence (AI) and deep technology.
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The overwhelming response underscores the growing investor confidence in South Korea’s burgeoning tech ecosystem, particularly within the AI and deep tech sectors. The NEXT UNICORN Project aims to identify and nurture companies with high growth potential, facilitating their transition from promising startups to global industry leaders. This strategic investment is expected to accelerate technological advancements, drive economic growth, and solidify South Korea’s position as a hub for future-defining innovations.
