Ministry of SMEs and Startups and Leading Korean Pharmaceutical Companies to Foster Bio Startups

Recruitment of Participants for the 2026 Challenge for All in BioLeading Pharmaceutical Companies Including Yuhan Corporation, GC Green Cross, and Chong Kun Dang Join the InitiativeTechnology Demand Matching, Commercialization Funding, and Joint R&D Opportunities Provided

The Ministry of SMEs and Startups, together with major domestic pharmaceutical companies, will discover and support startups with innovative technologies in the bio sector.

On June 10, the Ministry announced the recruitment of participating companies for the "2026 Public-Private Partnership Open Innovation Support: Challenge for All in Bio." This program aims to connect technology-driven startups with large and mid-sized pharmaceutical companies that possess R&D and commercialization infrastructure, supporting joint technology development (R&D) and market entry.

This year's challenge will see participation from leading companies in the Korean biopharmaceutical industry, such as Yuhan Corporation, GC Green Cross, and Chong Kun Dang, all of which plan to pursue collaborations with startups. Participating companies have expressed demand for advanced technologies, including AI-based new drug development platforms, next-generation formulation technologies, and diagnostic technologies utilizing biomarkers through this call for applications.

Selected startups will receive technology mentoring and proof-of-concept (PoC) opportunities from these pharmaceutical companies, as well as opportunities to build cooperative relationships such as joint R&D and global co-expansion in the future.

The program is open to startups in the bio sector that possess innovative technologies or business models. The final selected companies will receive up to 100 million won in commercialization funding, and those with outstanding performance will also be connected with customized packages necessary for business advancement, such as opportunities to attract private investment.

Hwang Youngho, Director General for Technology Innovation Policy at the Ministry of SMEs and Startups, stated, "Since the bio industry requires substantial capital and time, open innovation that combines the infrastructure of large corporations and the flexible innovativeness of startups is essential. We hope that this bio challenge will serve as a stepping stone for outstanding domestic startups to grow into global unicorns, and we will continue to strengthen our role as a bridge for public-private cooperation in the future."

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