Public institutions supporting South Korea’s venture companies are integrating artificial intelligence (AI) into their internal operations and evaluation systems to enhance the efficiency of support programs and expand data utilization. This strategic move aims to bolster policy support capabilities through AI innovation and accelerate the cultivation of unicorn companies.
According to government and venture industry sources, the Korea Venture Investment Corp. (KVIC) is transitioning its internal servers and IT systems to an AI infrastructure environment. Earlier this year, KVIC expanded and restructured its Digital Innovation Team into the AI Innovation Team and is actively recruiting specialists with expertise in AI.
KVIC plans to introduce four Nvidia H200 graphics processing units (GPUs) along with high-performance servers capable of hosting them. This transformation seeks to establish an infrastructure that can train large-scale deep learning models, conduct AI research experiments, and support related service development tests.
The agency’s goal is to achieve AI transformation in its fund-of-funds management. KVIC intends to implement an AI-based “Venture Fund Monitoring System” and “Fund Investment Review System” to enhance operational efficiency and expertise. “We will first apply AI to fund management operations, and by around next year, we expect to apply it to investment deliberations as well,” said KVIC CEO Lee Dae-hee.
In parallel, the Korea Small Business Institute (KOSI) is working to establish a GPU-based AI big data analysis infrastructure. KOSI operates the Small and Medium Enterprise Information Management System (SIMS), a big data platform that manages programs and information supporting small businesses across the nation. The upgrade aims to enhance the platform’s utility and openness.
The current SIMS has functioned as a closed analysis center, restricting joint research with external institutions. To convert it into an AI-driven big data analysis infrastructure, KOSI plans to transition it into a private cloud format. The agency also aims to create an AI testbed to predict and assess the performance and effectiveness of support policies for small and venture businesses. “We will secure an efficient analysis environment and AI modeling foundation by expanding a smooth data analysis infrastructure,” a KOSI official stated.
The Korea SMEs and Startups Agency (KOSME) is similarly pursuing AI adoption to enhance the soundness of its support funds for small and venture businesses. The plan includes advancing AI-based analytical functions to more accurately select target companies and to improve the objectivity and fairness of corporate evaluations. Specifically, KOSME is considering upgrading its existing policy program evaluation model, known as K-ACE, and developing a new system to flag at-risk companies. “In terms of fund soundness, the risk of insolvency has been rising recently amid the global economic crisis,” a KOSME official commented. “It is necessary to enhance the objectivity and fairness of the evaluation system through the use of AI.”
As South Korea’s venture support agencies embrace AI technologies, the broader implications extend beyond operational enhancements. By improving data analysis and operational efficiency, these initiatives aim to create a more supportive ecosystem for startups, ultimately fostering innovation and economic growth in a competitive landscape.
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