Busan City Reunites Industry, Academia, and Research to Drive Innovation Growth

Call for Proposals for University Innovation Research Complex Project Targeting Regional Universities

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kang Sharon] The industry-academia-research collaboration project, in which universities take on the mission of engaging in regional strategic industries by conducting related technology research and development and nurturing talent, is reigniting.

On the 18th, Busan City announced that, together with the Busan Institute of Industrial Science and Innovation, it will invite universities to participate in the "University Innovation Research Complex Creation Project," which will lead the innovative growth of regional industries, until June 8.

This newly launched project this year is a follow-up to the "University Industry-Academia-Research Complex Creation Project," which Busan City previously attempted and secured as a Ministry of Education financial support project.

The primary goal of this project is to create an innovation research complex linked to regional strategic industries by utilizing the abundant research infrastructure of universities. Within this, industry-academia linked technology development that can be commercialized will be conducted, serving as a "trigger" to promote technological innovation in companies. Creating youth jobs and fostering field experts are also key components of the project.

The city plans to establish a sustainable innovation ecosystem for industry-academia cooperation through this project. The aim is to maximize universities' contributions to the local community. It is expected that universities will play a leading role in urban innovation by enhancing the competitiveness of regional strategic industries.

The eligible applicants are four-year universities in the Busan area, and one university will be selected this year through an evaluation process conducted by a panel of experts to carry out the project.

The selected university will receive 2.5 billion KRW in project funds over five years, and with an additional 2.5 billion KRW of self-investment from the university, the project will be implemented with the goal of becoming self-sustaining after five years.

A Busan City official stated, "We will develop the University Innovation Research Complex into a successful model that practically contributes to the growth of regional industries and companies."

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