South Korea’s Ministry of SMEs and Startups announced on September 14 that 20 companies have been selected for the Baby Unicorn Nurturing Program’s profit-growth track in 2025. The program targets companies that have grown through sales revenue rather than external investment.
The ministry selected companies which have no history of external investment, have been operating for 4 to 10 years, and generate annual revenues between 20 billion and 60 billion won. The goal is to help these companies reach 100 billion won in annual sales, which is approximately $73 million. Forty-three companies applied for the program, creating a competition ratio of 2.2 to 1. The selection process focused on identifying companies with established business models and consistent revenue growth.
Each selected company will receive up to KRW 300 million in competitiveness enhancement funds and up to KRW 5 billion in government-backed guarantees. The funds can be used for business expansion, technology development, and market entry initiatives.The government guarantees are designed to help companies access additional financing from banks and other financial institutions by reducing lending risks.
The 20 selected companies have operated for an average of 6.7 years and generated average revenues of 32.7 billion won in the previous year. Over the past two years, these companies achieved an average revenue growth rate of 55.5 percent. This growth rate indicates that the selected companies have viable business models and the operational capacity to scale their operations. The program represents a shift from supporting venture capital-dependent startups to backing companies with proven revenue generation capabilities.
Here are the 20 selected startups
- Details = Content operations focused on fan experiences based on artist and character IP
- Regato= Sales of high-performance, low-power film heater modules and manufacturing/sales of hair dryers equipped with these modules
- Louetlang = Planning, development, and manufacturing of K-Food products targeting European markets
- Lingtea = Manufacturing and sales of functional beverages with moisture absorption and fatigue recovery properties
- Bonanza factory = Provides ‘Transight,’ a solution for cryptocurrency tracking and anti-money laundering
- Blink Project = Development, operation, and sales of lifestyle brands (bedding, fashion, leather accessories, etc.)
- Sangsang Bio = Manufacturing and sales of customized health functional foods based on the ‘QuickOEM’ platform
- Space Planning = Provides comprehensive hospitality industry consulting (from commercial area analysis to branding, construction, and marketing)
- Asonetech= Manufacturing and sales of LED display boards equipped with smart power management functions
- ST YOUNGWON = Design and manufacturing of ultra-high-speed wet separator production equipment for lithium-ion batteries
- Wolobrothers = Operation of IoT and AI-based vehicle diagnostic and maintenance-linked vehicle care platform
- UCube = Digital transformation project implementation for public institutions and provision of server/database operation solutions
- Genetox = Manufacturing and sales of botulinum toxin pharmaceuticals using proprietary strain and process technologies
- ClassU = Operation of online lecture platform providing courses in various fields
- Tag by Company = Operation of commerce and content marketing platform based on influencer behavior analysis
- Paket = Manufacturing and sales of ‘Mixsoon,’ a skincare brand based on plant-based raw materials
- Fugen Bio = Manufacturing and sales of bio cosmetics using ‘Kleps,’ a raw material derived from novel microorganisms
- Future People = Operation of freight and logistics operation support platform based on digital transportation solutions
- Picton = Manufacturing and sales of ‘Tocobo,’ a vegan cosmetic brand based on water holding powder technology
- Hi Nature = Manufacturing and sales of ‘Purito Seoul,’ a vegan cosmetics brand based on Korean natural raw materials
