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MSIT to strengthen deep tech startup ecosystem led by science and technology institutes

South Korea will expand support for four science and technology institutes and speed up efforts to foster regional deep tech startup ecosystems. The Ministry of Science and ICT held a meeting at KAIST with startup centers from KAIST, GIST, DGIST and UNIST. The government raised this year’s deep tech startup support budget for the four institutes to 39.8 billion won and widened programs to include regional prospective founders and early-stage startups. It will also ease leave limits for student and faculty entrepreneurs from September.