AI·Big Data-Based R&D Project Applications 'Heating Up'
[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 19th that there was a strong enthusiasm for applications for the newly launched artificial intelligence (AI) and big data-related research and development (R&D) projects this year.
The application competition rates for the newly introduced 'AI-based High Value-added New Product R&D Project' and 'Big Data-based Service Development R&D Project' by the Ministry of SMEs and Startups were recorded at 12 to 1 and 10 to 1, respectively, as of the application deadline on the 10th.
The competition rates for these two projects are more than twice the average competition rate of 4.4 to 1 for the Ministry's R&D projects last year. This is the highest level ever, showing that enthusiasm for applications remained strong despite the impact of the novel coronavirus disease (COVID-19).
The Ministry plans to introduce the 'R&D National Evaluation Group' system, where the public evaluation group will monitor the evaluation process alongside expert assessments and provide opinions on the submitted projects.
According to the 'Government R&D Corporate Burden Reduction Measures for COVID-19 Response' announced on the 8th, the Ministry will reduce the corporate burden rate for these two projects from 30% to 20%. Additionally, the cash portion of the corporate burden will be significantly lowered from 40% to 10%, which is expected to greatly reduce the burden on small and medium enterprises.
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Won Young-jun, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, said, "Due to COVID-19, changes in daily life and work life have already begun, serving as an opportunity to revitalize the AI and big data industries. We hope that through AI and big data-based R&D projects, the technological level of small and medium enterprises will improve and many social issues faced by the public will be resolved."
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