Policy
Policy Update
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1 October 2026
Growth capital
Korea launches its third regional growth fund, in Daejeon, at ₩54 billion.
The Daejeon D-Growth Fund (our translation) is a fund of funds that will back venture funds investing mainly in Daejeon. Ten institutions took part, including the government’s fund of funds with ₩35 billion. It follows regional growth funds in Jeonbuk and Ulsan.
Launched. Fund formed on 1 October 2026; the ministry says calls for venture funds start in late October 2026.
Ministry of SMEs and Startups, press release (in Korean). Read the original
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22 September 2026
Public procurement
Korea raises the value of local public contracts that must go to small firms first, to ₩350 million.
Local governments and other bodies under the local contracts law must give SMEs priority for goods and services contracts below a set value, which rises from up to ₩230 million to ₩350 million.
Approved, not yet in force. The Cabinet approved the change on 22 September 2026; the ministry says it takes effect in December 2026.
Ministry of SMEs and Startups, press release (in Korean). Read the original
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9 September 2026
Public procurement
The European Commission proposes a single EU procurement law and a common route for buying research and development.
A Public Procurement Act would replace the three EU procurement directives with one regulation and add a procedure for buying innovative solutions. A European Innovation Act would set a common procedure for R&D procurement.
Proposed. Feedback closes on 7 December 2026 (European Innovation Act) and 10 December 2026 (Public Procurement Act).
European Commission, press releases IP/26/1817 and IP/26/1810. Read the original
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7 September 2026
Growth capital
The UK sets a goal to double its number of unicorns and announces a £150 million scale-up fund for the North.
The Chancellor set a goal to double the number of UK companies valued at over £1 billion, with the state acting as an early customer for high-growth firms, and announced a new British Business Bank fund for scale-ups in the North of England.
Announced. The announcement gives no launch date for the fund.
HM Treasury, press release and speech. Read the original
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6 September 2026
Rules and definitions
The UK consults on lighter reporting rules for SMEs and audit exemption for some medium-sized companies.
The Department for Business, Innovation, Science and Trade has opened a consultation on modernising corporate reporting, including a lighter regime for SMEs.
Consultation open until 30 November 2026.
Department for Business, Innovation, Science and Trade, press release. Read the original
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20 August 2026
Rules and definitions
US Small Business Administration proposes new size standards for 338 industries.
The agency estimates a net increase of about 114,500 firms classed as small, a rise of 1.8%.
Consultation open until 20 November 2026. Proposed rule.
US Small Business Administration, Federal Register. Read the original
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4 August 2026
Public procurement
Japan urges local governments to buy more from start-ups.
The Ministry of Internal Affairs and Communications and the Ministry of Economy, Trade and Industry advised local governments to make active use of negotiated contracts to buy from start-ups, and published survey results and case examples.
Guidance issued to local governments.
Ministry of Internal Affairs and Communications, press release (in Japanese). Read the original
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4 August 2026
Growth capital
Scaleup Europe Fund cleared to start investing, with EQT as manager.
The European Commission completed the final legal steps to set up the fund. It aims to reach €5 billion and will back scale-ups in areas including AI, quantum, biotech and clean tech.
Launched. The Commission said on 4 August 2026 that the first investments were expected within weeks.
European Commission, press release IP/26/1718. Read the original
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13 July 2026
Finance and guarantees
UK plans to more than double lending under its Growth Guarantee Scheme.
HM Treasury says the 70% state guarantee on SME loans will support £3.35 billion of lending a year by 2028/29, with longer terms and a higher turnover limit.
Announced. No start date for the new terms had been published as at 15 October 2026.
HM Treasury, press release. Read the original
