[DigitalToday reporter Jin-ho Lee (이진호)] The government will expand support for four science and technology institutes and step up efforts to foster regional deep tech startup ecosystems.

The Ministry of Science and ICT on Tuesday held a meeting of startup centers from the four institutes at the Korea Advanced Institute of Science and Technology (KAIST).

The meeting was the first gathering of the heads of the startup centers and project managers since the launch of the startup centers at KAIST, the Gwangju Institute of Science and Technology (GIST), the Daegu Gyeongbuk Institute of Science and Technology (DGIST) and the Ulsan National Institute of Science and Technology (UNIST) was completed in July. Participants reviewed startup results by institute, operating status of the centers and progress of deep tech startup support projects. They also discussed the centers' roles as regional startup hubs and cooperation measures with related institutions.

The government expanded this year's deep tech startup support budget for the four institutes to a total of 39.8 billion won through a supplementary budget. It set up dedicated startup organizations at the other three institutes, which previously existed only at KAIST, and increased dedicated staffing. It also expanded startup support programmes that had focused on campus members to include regional prospective founders and early-stage startups. The four institutes have produced about 790 startup companies over the past 5 years.

A flagship project under the supplementary budget, the Emerging Tech Global Launchpad, supports 42 promising technology companies in the central, southwest, Daegu-Gyeongbuk and southeast regions in their global expansion. It will run through November, providing capacity-building training, tailored strategies for each company, local proof-of-concept verification and investor roadshows.

The Four-Institute Startup League, which focuses on prospective and early-stage founders, selected a total of 140 teams in June, with 35 teams from each institute. It will pick 10 final teams through integrated semifinal and final rounds by September, and provide prize money and an accelerating programme hosted by global venture capital firms.

The ministry will also ease restrictions on taking leave or absence for startup purposes from September, considering that deep tech startups take a long time. Student entrepreneurs will be able to extend leave without limit with approval from the president. Faculty will be allowed to take startup leave for up to 7 years.

KAIST will introduce a system that recognizes startup activities during enrollment as regular academic credits, the first among the four institutes. It will also provide training in legal, tax and labor issues, along with expert mentoring, for prospective entrepreneurs.

Kim Sung-soo (김성수), director general for research and development policy at the ministry, said it was time for the four institutes to go beyond the boundaries of their universities and leap into regional deep tech startup hubs. He said policy support would continue so outstanding research assets nationwide can enter global markets.