SKC Opens Applications for Startup Plus 3rd Cohort... Doubles Number of Selected Companies

[Asia Economy Reporter Hwang Yoon-joo] SKC will expand the operation of its new material technology-based open platform this year to strengthen the competitiveness of the materials industry and spread social value. The number of selected companies will be doubled, and a new consulting service involving experts from various fields will be launched.

Starting from the 17th, SKC is recruiting participating companies for the 3rd term of 'SKC Startup Plus.' The program targets prospective entrepreneurs, startups, and small and medium-sized enterprises with creative ideas or technologies related to high-function, high-value-added industrial materials such as mobility, eco-friendliness, and energy saving. Applications are accepted on 'Idea Maru' until March 13.

The final selected teams will be 20, twice as many as last year. After document and presentation evaluations, the results will be announced on March 31. An SKC official explained, “We received many opinions from participating companies wishing that more startups could receive support from partner organizations,” adding, “To expand social value, we doubled the number of selected teams.”

SKC provides commercialization support funds and shares 40 years of expertise as a materials-specialized company, including management know-how and R&D infrastructure. In particular, a new program will be operated where 30 experts from fields such as automotive, display, ICT, and AI provide professional consulting services both online and offline.

Partner organizations add expertise by field. The newly participating Korea Technology Finance Corporation conducts technology finance consulting and recommends excellent companies to encourage more firms to participate in the platform and receive support. Shinhan Bank evaluates the patents of selected companies and provides financial services.

Existing organizations such as the Ministry of Trade, Industry and Energy R&D Strategy Planning Group promote policies and support institutional improvements, while the Korea Institute of Science and Technology Information is responsible for upgrading the technology and research capabilities of the selected teams. Deloitte Anjin Accounting Firm provides accounting and tax advisory services. The Ulsan Center for Creative Economy and Innovation supports commercialization through startup mentoring and, starting this year, strengthens follow-up support by linking with the materials, parts, and equipment startup discovery project. Ulsan Technopark provides technical support for venture and small businesses.

Meanwhile, SKC has been striving to build an ecosystem where materials companies can grow rapidly for the past three years. In 2017, it laid the foundation for supporting the commercialization of materials companies with five organizations including the Ulsan Center for Creative Economy and Innovation, and the following year, it launched the SKC Startup Plus contest. Last year, the target was expanded to include small and medium-sized enterprises.

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