For Smart SMEs... Funding AI Projects and Manufacturing Innovation

Ministry of SMEs and Startups Establishes 18 New Projects Worth 280.7 Billion KRW
Significant Expansion of Technology Development Support

[Asia Economy Reporter Kim Daeseop] To realize a 'Smart Korea' centered on small and venture businesses, the support projects for technology development for small businesses will be significantly expanded this year. The Ministry of SMEs and Startups has established 18 new projects (worth 280.7 billion KRW) to meet the diverse technology development support demands of small businesses.

According to the Ministry on the 7th, to create new industries in the Fourth Industrial Revolution field, a new project called 'AI-based High Value-added New Product Technology Development' was launched. This project supports technology development worth a total of 15.5 billion KRW, enabling companies to create products with high added value by applying AI to existing products. A 'Big Data-based Service Development' project was also introduced with a budget of 6.5 billion KRW.

In particular, to support technological independence in the materials, parts, and equipment sector, a 'Tech Bridge Utilization Commercialization Technology Development' project worth 13 billion KRW was added. Through this platform, small businesses that have received technology transfers in the materials, parts, and equipment sector will be supported with follow-up commercialization technology development funds.

New support projects for manufacturing innovation will also be promoted. A total of 6.1 billion KRW will be invested in the 'Smart Sensor Leading Project Technology Development' and 'Manufacturing Technology Convergence Center Testbed Technology Development' projects. By developing smart sensor technology, which is a core technology for data measurement and transmission, the plan is to secure the core competitiveness of future factories for domestic small businesses.

Additionally, 20.2 billion KRW has been secured for new support projects in industry-academia-research cooperation. Support will be provided for 'Technology Holding Company Subsidiary Commercialization-linked Technology Development (R&BD)', 'Industry-Academia Cooperation Hub-type Platform', and 'Joint Demand Technology Development for Regional Small Businesses.'

Furthermore, new support projects have been prepared, categorized into regulatory special zones and regional industry promotion (178.2 billion KRW), regulatory resolution type (17 billion KRW), daily life proximity type (14.1 billion KRW), and innovation growth (9.9 billion KRW). These include 'Technology Development for Overseas Certification Standard Compliant Products', 'Regulatory Free Zone Innovation Project Promotion', 'Overseas Original Technology Commercialization Technology Development', 'Practical Technology Development for Fine Dust Reduction', and 'Lifestyle Innovation Technology Development for Small Business Owners and Self-employed.'

Including the newly established projects this year, the total scale of technology development support projects for small businesses amounts to 1.4885 trillion KRW. This is the largest scale ever, with an increase of 414.1 billion KRW (38.5%) compared to the previous year.

Yoon Semyung, Director of Technology Development at the Ministry of SMEs and Startups, said, "We will strengthen technology development support through investment methods rather than grants and subsidies, and enhance support in the form of technology-based consortiums rather than individual companies." He added, "Starting this month, we will hold 19 joint briefing sessions with related ministries and regional tours through local Small and Venture Business Offices."

This content was produced with the assistance of AI translation services.