Find Startups in Ulsan

Ulsan is home to over 800 emerging startup ventures. Join 200+ startups already on Foundersbase - be among the first 50 joining in Ulsan and discover promising early-stage innovation partners today!

Find startups →

↓ Explore the startup ecosystem of Ulsan

Startup Ecosystem in Ulsan

Ulsan has cultivated a specialized and increasingly dynamic startup ecosystem, where Korea's industrial heavyweight housing global champions like Hyundai Heavy Industries and Hyundai Motors meets petrochemical giants including SK Energy and a determined civic pivot toward industrial innovation to transform traditional manufacturing strengths. The city has redirected its substantial industrial capacity toward future-focused technologies with particular environmental relevance. Promising ventures like Neuromeka, UltraWave, and Hanno showcase particular strengths in shipbuilding technology, automotive innovation, industrial robotics, and increasingly green chemistry and hydrogen solutions reflecting the region's industrial DNA and strategic future positioning. The funding landscape includes specialized corporate venture activity from regional industrial giants seeking complementary innovation, dedicated funds like Ulsan Techno Park Venture Investment supporting regional entrepreneurs, and strategic national investments supporting smart manufacturing initiatives, hydrogen economy development, and sustainable industrial transformation. Angel investors organize through networks like Ulsan Angels Network and specialized technical groups connected to UNIST, bringing deep industrial expertise alongside capital, with particularly strong representation from midlevel executives from regional industrial leaders recognizing the need for digital transformation. Supportive infrastructure includes specialized programs like Ulsan Techno Park's incubation center supporting industrial technology ventures, the Smart Manufacturing Innovation Center facilitating factory digitalization, and UNIST Startup UNISPARK connecting university innovations with industrial applications. Innovation clusters develop around traditional industrial zones now being transformed including the Ulsan Petrochemical Complex and Hyundai Heavy Industries facilities, alongside emerging startup clusters around UNIST for advanced materials and green technology, the Ulsan Techno Industrial Complex for smart manufacturing, and increasingly the Ulsan Eco-Industrial Park combining environmental technology with industrial applications. Ulsan startups benefit from exceptional industrial customer base providing ready B2B market opportunity, strong engineering talent pipeline from specialized technical universities and industry, lower operating costs allowing longer runway than Seoul-based ventures, and strategic positioning within Korea's largest industrial hub. Challenges include historically conservative corporate culture affecting innovation adoption despite increasing openness, talent retention complexities competing with Seoul's dominant startup ecosystem, historically limited startup services infrastructure despite rapid recent development, and sometimes rigid hierarchical business structures.

Ulsan startups in numbers

Startups in Ulsan on Foundersbase show a range of characteristics across different early development stages. Among the projects in this region, 46% are currently in the concept phase, exploring early validation, while 54% have developed a minimum viable product (MVP) and are open to forming strategic partnerships. Currently, 38.1% of startups have reached the Prototype phase, one of several indicators of how innovative founding projects in Ulsan are evolving. A significant share (62%) report open positions, making this a valuable space for entrepreneurial talent looking to join a team early. In terms of funding, 49% of startups are currently seeking investment, while others pursue different approaches to growth. Startups in Ulsan are active across a wide range of industries, with many focusing on areas such as Biotechnology, Mental Health, and Big Data. Alongside sector diversity, projects also address major global challenges. Notable impact innovation topics include Carbon Footprint Reduction, Wildlife Conservation, Ocean Protection, and Sustainable Mobility, adding purpose-driven perspectives to the local startup scene. Whether you’re interested in supporting founders, investing in early-stage ventures, or finding opportunities to get involved, the startup activity in Ulsan offers a great starting point.

Job Offerings

More than (46%) of startups in Ulsan are actively recruiting talent, while (54%) are focused on building with their current team.

Hiring 46%

Startup Stage

The Ulsan startup ecosystem spans various development stages from early ideas to profitable businesses, with most ventures (38.1%) currently at the Prototype stage.

Funding Need

About (67%) of early-stage startups in Ulsan are seeking external investment to scale their innovations, while (33%) are pursuing a bootstrapped growth approach.

Fundraising 67%

Top innovation sectors

Discover the industries where early-stage startups in Ulsan are developing innovative solutions and seeking collaboration partners.

Blockchain

Biotechnology

Mental Health

Big Data

Sustainability

Education

Space Technology

Healthcare

Impact Focus

Startups from Ulsan on Foundersbase most often focus on Carbon Footprint Reduction, driving innovation in this area.

Carbon Footprint Reduction

Wildlife Conservation

Ocean Protection

Sustainable Mobility

Discover the startup ecosystem in Ulsan

Early-stage Startups. Entrepreneurs. Private Investors.

Our platform connects startup supporters, mentors, collaboration partners, and angel investors with promising early-stage ventures in Ulsan and around the globe. Join our startup community today, its free!

Discover emerging ventures before anyone else.
Connect with early-stage startups for collaboration opportunities.
Support, mentor, and engage with innovative founding teams.

Get started

As featured in