Unlocking Deep Tech Collaboration in South Korea: Tapping Into Emerging Tech Frontiers Beyond Seoul

South Korea has emerged as a vibrant hub for deep tech innovation, fuelled by a combination of robust government support, world-class academic institutions, and a growing private sector investment appetite. The country’s ecosystem is structured across central and regional public initiatives, academia-led efforts, and private organizations, all working together to foster cutting-edge technologies.

Government-Driven Initiatives

At the national level, organizations such as KISED (Korea Institute for Startup & Entrepreneurship Development) and the National IT Industry Promotion Agency (NIPA) play pivotal roles in nurturing the deep tech ecosystem. These agencies offer a blend of incubation, acceleration programs, R&D grants, and business support services tailored to deep tech startups. Through programs like TIPS (Tech Incubator Program for Startups), the government has created a structured pipeline where promising startups receive early-stage investments coupled with mentorship and technical guidance.

On a regional level, Technoparks in Ulsan, Busan, and 17 other cities, as well as the Centers for Creative Economy and Innovation (CCEIs), foster local innovation by providing R&D infrastructure, business acceleration programs, and vital links to corporate partners.

These hubs acts as a local anchor institution that bridges academia, startups, SMEs, large corporates, and government agencies in a given province or city and ensure that deep tech innovation is not confined to Seoul but flourishes across the entire country.

For both foreign and domestic corporates, South Korea’s Technoparks and regional innovation initiatives present highly attractive testbeds for deep tech innovation. Compared to Seoul, these hubs offer lower costs and faster access to specialized facilities and skilled talent. They also provide opportunities for localized pilot projects in niche industries — such as clean energy in Jeonnam or robotics in Gyeongnam — where regional expertise and infrastructure are concentrated. In addition, corporates can benefit from government co-funding and support for collaborative projects with startups or universities, making it easier to de-risk early-stage innovation. These regions also serve as strategic manufacturing and commercialization bases, helping companies scale promising technologies beyond the MVP stage.

Academic Powerhouses

Korea’s top universities — Seoul National University, Yonsei University, Korea Advanced Institute of Science & Technology (KAIST), Hanyang University, Korea University, UNIST, and Pusan National University — are critical engines of deep tech innovation. These institutions are not only at the forefront of scientific research but also actively cultivate entrepreneurial ecosystems. Through internal incubators, tech transfer offices, and venture support programs, universities enable students, researchers, and faculty to commercialize breakthrough technologies. University-affiliated startups often leverage cutting-edge advancements in fields such as artificial intelligence, robotics, biotechnology, and quantum technology.

Private Sector Catalysts

Complementing the public and academic efforts are private accelerators and venture builders like SparkLabs, D.Camp, Maru180 (Asan Nanum Foundation), Bluepoint Partners, and FuturePlay. These organizations offer tailored acceleration programs, seed and early-stage funding, and access to global networks. They play a vital role in bridging the gap between research-driven startups and the broader business ecosystem, supporting commercialization and international scaling.

Summary of Key Trends

• Government-Industry Collaboration: Deep tech startups often collaborate with chaebols (large conglomerates) such as Samsung, Hyundai, and LG for pilot projects, technology co-development, and scaling opportunities.
• Globalization Push: Korean deep tech startups increasingly aim for early entry into overseas markets, targeting North America, Europe, and Southeast Asia through strategic partnerships and global accelerators.
• Focus Areas: Key sectors receiving concentrated investment and support include AI, autonomous systems, semiconductors, biotechnology, energy tech, and quantum computing.

Opportunities for Deep Tech Collaboration

South Korea’s deep tech ecosystem presents significant opportunities for international collaboration and open innovation initiatives:

• Corporate-Startup Partnerships: Korea’s leading conglomerates are actively seeking innovative technologies through open innovation programs. Global startups and research institutions can partner with Korean firms for co-development, licensing, and market entry opportunities.
• Joint Research and Development: Korean universities and government-funded R&D centers are open to cross-border research collaborations, particularly in emerging fields such as advanced materials, biopharmaceuticals, and green technologies.
• Investment and Venture Building: Global investors, venture builders, and corporate venture capital (CVC) units can find promising co-investment opportunities in Korea’s deep tech startups, many of which are looking to expand internationally and are receptive to strategic partnerships.
• Government-Funded Projects: Through R&D calls and joint funding programs, foreign entities can collaborate with Korean public institutions on projects that align with national priorities, especially in sectors like smart mobility, carbon neutrality, and healthcare innovation.

In short, South Korea’s deep tech ecosystem is increasingly outward-looking and eager for international engagement — making it an ideal entry point for companies, investors, and researchers seeking innovation-driven collaboration in Asia.

Tips on Approaching Deep Tech Collaboration In South Korea

1. Clarify Internal Strategic Priorities: Korea has a rich but specialized ecosystem — if you know your goals upfront, you can navigate faster and more effectively.
2. Map and Prioritize Key Partners: Korea is highly relationship-driven. Target a few high-value partners first instead of spreading too thin.
3. Establish a Local Presence (Even if Small): Korean startups and institutions often prefer working with partners they can meet physically or perceive as long-term collaborators.
4. Launch Specific Programs, Not Just “Scouting”: Tying activities to funding, piloting, or market entry support will make Korean startups much more eager to engage.
5. Plan for Long-Term Relationship Building: Open innovation success in Korea is a marathon, not a sprint — relationships compound over time.

Our PS² Approach Deep Tech Collaboration In South Korea

The PS² (Parallel Scouting-Sourcing) scouting methodology is a hybrid approach that combines the strengths of both sourcing and scouting to identify, qualify, and funnel high-quality startups into innovation programs. This dual-path strategy integrates and leverages on an internal database of 11,500 alumni startups, an extensive AI-powered global database of over 4 million startups, and taps into our broad network of ecosystem partners.

What sets PS² apart from conventional startup scouting methods is its strategic layering of data-driven insights whilst tapping into Start2 Group’s broad network of ecosystem partners—investors, mentors, accelerators, and thought leaders—putting this extended innovation community directly at the client’s fingertips.

Unlike traditional scouting methods that rely heavily on passive applications or closed networks, PS² drives proactive, multiplier-led outreach to source hidden gems and niche players often overlooked by conventional methods. This expansive yet targeted approach significantly boosts the diversity, quality, and strategic alignment of startups delivered, ensuring that our clients have access to a curated selection of partners who are not just innovative, but truly ready for collaboration.

Questions?

Reach out to know more.
‍
Marta Allina
Program Director, South Korea
marta.allina@start2.group‍
‍
Wilson Lee
Senior Business Development Manager, Asia
wilson.lee@start2.group