On the 18th of this month, an international seminar titled 'From Foundation to University: The Evolution Model of the U.S. Startup Ecosystem from Silicon Valley to Regions' was held in Mapo, Seoul. The seminar focused on the American startup ecosystem, particularly examining the case of Salisbury University in Maryland, and discussed the limitations of South Korea’s startup environment and ways to improve it. Participants emphasized that universities play a crucial role in fostering a sustainable startup ecosystem, advocating for a shift from a support structure concentrated in the metropolitan area and select universities to a focus on building regional-based ecosystems connected to global markets.

Jungwook Lim, co-representative of the Startup Alliance, noted that while government policies in the past decade contributed to the quantitative growth of startups, they have not strengthened the ecosystem’s self-sustaining capacity. He pointed out that government support is heavily skewed towards early-stage startups, which diminishes drastically in the growth phase, leading startups to rely increasingly on private investment and diverting their focus towards fundraising instead of maintaining a virtuous cycle of growth. Lim emphasized the need for long-term strategies that go beyond mere funding, incorporating technological accumulation and talent cultivation as the startup environment shifts towards deep technologies such as AI, semiconductors, and biotech.

Choi Ji-young, executive director of the Korea Startup Forum, stressed that universities should be starting points for the startup ecosystem. Although there has been an increase in support for student entrepreneurs, opportunities tend to concentrate in a few top-tier universities, widening accessibility gaps. He proposed creating pathways that connect to entrepreneurship through collaboration with regional innovation centers and creative economy innovation centers. With limitations in the domestic market, he argued that connections to global markets are also essential. The Salisbury University example, where universities played a central role in establishing regional startup ecosystems by combining foundations, universities, government, and local finance, was highlighted as a model worth emulating in Korea.