![cityscape at night time](https://images.unsplash.com/photo-1572675328361-3c8ee254f35b?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHx8fA%3D%3D&auto=format&fit=crop&w=1000&q=80)
 South Korea is excelling in fostering entrepreneurship and innovation, with a strong track record of building global corporations and tech unicorns like Coupang. The nation's advantage lies in its robust hardware engineering sector, anchored by industry giants Samsung and LG, which not only dominate manufacturing but also provide investment and support to local startups. Samsung's commitment to nurturing innovation is evident in its plans to open an AI startup incubator and build a new semiconductor complex in South Korea. Moreover, international companies like Google and Facebook are recognizing South Korea's startup potential, establishing initiatives such as [Google Campus and Innovation Lab Korea](https://www.campus.co/seoul/) to further drive innovation. 

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 Despite a corporate culture that may steer potential entrepreneurs towards traditional employment, the government has implemented the Comprehensive Startup Korea Plan to encourage entrepreneurship and attract global startups. This plan aims to generate five new unicorns by 2027 and offers support for Korean startups looking to expand globally. The government's Second Chance Startup Package minimizes the cost of failure for entrepreneurs and provides regulatory sandboxes to reduce legal risks. With billions in assets managed by the Korean Fund of Funds, as well as dedicated funds for space startups, South Korea has positioned itself as a top destination for startups. 

 
 Foreign entrepreneurs are also encouraged to set up in South Korea, with programs like the OASIS Visa and Digital Nomad Visa facilitating their entry. The [K-Startup Challenge](https://k-startupgc.org/) provides acceleration programs for foreign startups, while the government's commitment to the ecosystem is evidenced by the creation of global funds worth billions to attract investors. Strong startup hubs in Seoul and Busan, supported by local governments and organizations, have gained international recognition. Despite these advancements, the challenge for South Korea lies in encouraging more entrepreneurs to take risks and pursue startup ventures. With a focus on expanding globally, South Korean startups are on the path to establishing the country as a key player in the global startup ecosystem.

South Korea

Fintech is an innovative data solutions provider that empowers businesses to harness the power of data analytics. By offering cutting-edge tools and insights, Fintech enables companies to optimize their operations, enhance decision-making, and drive growth in an increasingly competitive landscape.

Fintech

Seoul

Fintech startup from Seoul, South Korea is ranked null out of 194476 worldwide and null from the 2007 startups in South Korea. See more information and additional rankings on the StartupBlink Global Ecosystem Map

As the innovation hub of the Ontario region, Markham is renowned for its outstanding high-tech R&D capacity, highly-trained professionals, and thriving networks of entrepreneurs which enable our  startup ecosystem to achieve steady continuous growth.

Director General, Department of Academia-Industry Collaboration and Science Park Affairs

Key Stats of the Totonto-Markham Startup Ecosystem

NovX raises US $ 7.8 million and becomes the first Series-C startup in Markham.

2008

Launch of VentureLab, an active non-profit organization that invests in early-stage ventures.

2011

SAP acquires Ontario-based startup, Camilion Solutions.

2013

IBM Innovation Space is launched with US$ 24.75 million investment.

2017

YSpace, York University’s community innovation hub in Markham starts operations.

2018

Spaice, Inc. raises approximately US$ 3.3 million, the highest pre-seed investment to date.

2020

Markham

Fintech Startup Info & Ecosystem Rankings | StartupBlink