Seoul, already home to most of South Korea’s 11 unicorns, is aiming to become one of the world’s top 5 startup hubs by 2022. And the government is putting its money where its mouth is. In July the South Korean government announced plans to invest 114 trillion won ($94.5 billion) over the next 5 years into two ambitious new policies — the Digital New Deal and Green New Deal. Korean companies and local governments will contribute another $37.2 billion to the initiatives for a total of $132.6 billion. Complementary programs from the Seoul Municipal Government include the establishment of the IoT Incubation Center to support startups working to find solutions to urban problems, the creation of the Gyaepo Digital Innovation Park, and the creation of the Seoul App Business Center startup hub. The Seoul Global Startup Center supports foreign entrepreneurs moving to Seoul. The ecosystem also boasts plenty of privately run incubators and events. COMEUP 2020 was Korea’s biggest startup event to date attracting 1076 startups from 88 countries. Venture Capital World Summit helps connect entrepreneurs and investors. TIPS provides startups with incubation spaces in collaboration with universities and research institutes. Its angel matching fund scheme offers financial assistance to growing companies. Seoul startup success stories include global research firm and unicorn CB Insights, AI tutoring company Riid, which has raised a total of $248.1 million, and Fintech startup Viva Republica, currently valued at $7.4 billion.