Korea’s open innovation platform AroundX is entering a new phase. In 2026, the Ministry of SMEs and Startups will select 403 startups to collaborate with 17 multinational corporations, including OpenAI, HP, Mercedes-Benz Korea, and Astellas. The scale and structure signal a shift from partnership announcements toward institutionalized, policy-backed execution within Korea’s deep-tech startup strategy.

MSS Opens Applications for 403 Startups Under 2026 AroundX Program

The Ministry of SMEs and Startups (MSS) announced on February 27 that it will recruit 403 startup companies to participate in the 2026 AroundX global corporate collaboration program. Applications are open until March 16 via the K-Startup portal.

AroundX is a government-led open innovation initiative launched in 2019 to connect Korean startups with global corporations for growth support and overseas expansion. The program began with Google Play as its sole partner and has expanded annually.

In 2026, four new companies have joined the platform: OpenAI, Mercedes-Benz Korea, Astellas, and HP. This brings the total number of participating multinational corporations to 17.

The program will operate under two tracks. The Accelerating track focuses on incubation using the infrastructure and expertise of participating corporations. The Open Innovation track centers on joint proof-of-concept projects and research and development collaboration. Where concrete collaboration tasks are identified, a second-year Open Innovation program will support longer-term execution.

Startups selected under AroundX will receive up to KRW 200 million in commercialization funding from MSS. They will also gain access to corporate-led services, training, consulting, and global market development support.

Eligibility is limited to startups within seven years of establishment, or ten years in designated new industry sectors.

How AroundX Evolved from Pilot to 17-Corporate Platform

AroundX began in 2019 under the name “Global Corporate Collaboration Program” with Google Play as its only partner. By 2025, participation had expanded to 13 multinational corporations including NVIDIA, Microsoft, Amazon Web Services, IBM, Intel, Oracle, Siemens, L’Oréal, Thales, Air Liquide, Dassault Systèmes, and Ansys.

The 2026 expansion introduces four additional strategic-sector players. OpenAI represents generative AI infrastructure. Mercedes-Benz Korea strengthens mobility collaboration. Astellas brings pharmaceutical and bio-industry linkage. HP expands PC and AI-related incubation under its “HP Garage 2.0” initiative.

The structural change this year lies not only in corporate participation but in scale. The program will support 403 startups in a single intake cycle, marking a significant expansion compared to prior years.

The program is also divided more clearly into operational tracks. Twelve programs fall under the Accelerating track, while six are categorized under Open Innovation. This segmentation reflects a policy effort to separate incubation-led engagement from enterprise-grade joint R&D execution.

Ministerial Position on Deep-Tech Expansion

Minister Han Seong-sook of the Ministry of SMEs and Startups stated:

“With four global leading companies in strategic industries newly participating, new opportunities have opened for our startups. We will continue to actively collaborate with global corporations seeking to work with K-startups and accelerate the development of deep-tech startups.”

Her remarks frame AroundX within the broader 2026 policy direction emphasizing deep technology sectors.

No additional policy changes or budget revisions beyond the program’s expanded scale were specified in the announcement.

AroundX 403-Startup Expansion: Impact for Korea’s Startup Ecosystem

The 2026 expansion positions AroundX as a scaled, institutional open innovation infrastructure rather than a limited partnership scheme.

The selection of 403 startups introduces a level of volume rarely seen in corporate-collaboration programs in Asia-Pacific ecosystems. Singapore’s Enterprise Singapore initiatives and Japan’s J-Startup platform operate differently, often emphasizing curated cohorts rather than large-volume deployment within a single centralized framework.

The dual-track model clarifies two pathways:

• Incubation using global corporate assets
• Joint technology validation and R&D collaboration

This structure reduces ambiguity in program expectations. Startups entering under the Accelerating track can expect structured corporate-backed incubation. Those under Open Innovation must engage in defined technical collaboration.

The inclusion of OpenAI and HP also aligns the program with generative AI, enterprise computing, and cloud infrastructure trends shaping the Asia-Pacific startup ecosystem in 2026.

At the same time, AroundX remains a policy-driven platform. Funding support of up to KRW 200 million per startup is provided directly by MSS. Corporate programs supplement rather than replace state-backed commercialization capital.

This design reflects Korea’s broader startup architecture: public capital initiates engagement, multinational corporations provide infrastructure access, and startups operate within a policy-mediated collaboration environment.

For international founders evaluating Korea as an entry point into Northeast Asia, AroundX signals that corporate collaboration is institutionally organized rather than ad hoc. For venture investors, participation in AroundX may function as early-stage validation, although the announcement does not provide data on follow-on investment outcomes.

Institutionalizing Global Collaboration

AroundX’s 2026 intake does not introduce a new concept. It formalizes scale instead.

By combining government funding, defined collaboration tracks, and multinational participation under a single operational framework, MSS is standardizing corporate-startup engagement as part of national startup policy.

The upcoming second-stage program for 2023–2025 graduates, scheduled for separate announcement, suggests continuity rather than one-off engagement.

As global capital tightens and corporate venture spending becomes more selective, Korea’s model shows a different approach: policy-backed open innovation that integrates funding, PoC support, and commercialization assistance within one state-coordinated structure.

The effectiveness of this model will depend on execution and measurable outcomes, particularly conversion of PoC projects into long-term contracts or capital formation. The current announcement does not disclose performance metrics.

Key Takeaways on Korea’s AroundX 2026 Program

• MSS will select 403 startups under the 2026 AroundX global collaboration program.
• Total participating multinational corporations increased to 17, including OpenAI, HP, Mercedes-Benz Korea, and Astellas.
• The program operates under two tracks: Accelerating and Open Innovation.
• Selected startups receive up to KRW 200 million in commercialization funding.
• AroundX reflects Korea’s policy-backed approach to institutionalized corporate-startup collaboration.
• Applications close March 16 via the K-Startup portal.

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