Incheon TP, Discovering and Nurturing Global Small Giants... Close Support for 13 Companies Over 4 Years

Incheon Technopark

[Asia Economy Reporter Park Hyesook] Incheon Technopark (Incheon TP) announced on the 11th that it will collaborate with the Ministry of SMEs and Startups, Incheon City, and the Incheon Regional Small and Medium Venture Business Administration to foster global small giant companies in the Incheon area.

This initiative aims to discover promising small and medium enterprises (SMEs) with innovation and growth potential, nurture them into global companies, and help them establish themselves as leading export companies. This year, 13 companies will be selected and supported.

The support targets SMEs with annual sales between 10 billion and 100 billion KRW and direct or indirect exports exceeding 5 million USD last year. Innovative companies (venture, Inno-Biz, Main-Biz companies) with sales between 5 billion and 100 billion KRW and direct or indirect exports over 1 million USD are also eligible to apply.

Applications can be submitted through the Small and Medium Business Export Support Center website. The public recommendation system for promising companies can be applied for and submitted via the Ministry of SMEs and Startups website. The application period is until the 2nd of next month.

After passing eligibility screening, on-site evaluation, and presentation evaluation, companies finally selected for support will receive dedicated overseas marketing support from the Ministry of SMEs and Startups for up to 200 million KRW and customized city government support of around 20 million KRW for the next four years.

Additionally, benefits include preferential participation in technology development projects by the Small and Medium Business Technology Information Promotion Agency, guarantees and financial support from private financial institutions and the Small and Medium Business Corporation.

An Incheon TP official stated, "This year’s program expands the support scope from 14 programs in 4 fields to 16 items in 5 fields," adding, "We will actively support Incheon’s export small giant companies to emerge as hidden champions in the global market."

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