Ministry of Oceans and Fisheries Implements 'Outstanding R&D Innovative Product Designation System'... Eligible Companies for Support

[Asia Economy Reporter Joo Sang-don] The Ministry of Oceans and Fisheries (Minister Moon Sung-hyeok) announced on the 9th that it will implement the 'Excellent R&D Innovative Product Designation System' starting this year and is recruiting eligible companies from the 10th to February 14th.

The Excellent R&D Innovative Product Designation System designates products recognized for technological innovation among those commercialized by small and medium-sized enterprises (SMEs) through national R&D projects as 'Excellent R&D Innovative Products,' allowing public institutions to purchase and utilize them through direct contracts.

Companies wishing to have their products designated as Excellent R&D Innovative Products can submit application documents via email to the Korea Institute of Marine Science and Technology Promotion (KIMST) by February 14th.

Eligibility requires being an SME under Article 2, Clause 1 of the Small and Medium Enterprise Promotion Act and possessing a product commercialized from a successful marine and fisheries R&D project completed within the last five years (January 1, 2015 ? December 31, 2019).

Evaluation of the application products will proceed in two stages: on-site evaluation and document review. The on-site evaluation will verify ▲ possession of the target product ▲ application of developed technology ▲ commercialization foundation and product performance, while the document review will comprehensively assess ▲ public interest ▲ social value ▲ marketability ▲ and innovativeness of the product.

Products recognized for innovation through the evaluation will be designated as Excellent R&D Innovative Products and registered on the Public Procurement Service's Nara Market. If public institutions wish to purchase these products, they can either directly contract or request purchase through the Public Procurement Service, linking to direct contracts.

Oh Haeng-rok, Director of the Marine Science and Technology Policy Division at the Ministry of Oceans and Fisheries, stated, "This system is expected to actively connect innovative national R&D achievements to public procurement, creating demand in the public sector to support early market entry of products and driving the expansion of purchases into the private sector."

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