Busan City, "Giving Wings to Startups with Intellectual Property"

Recruitment of Participating Companies for the 2nd Phase of the Intellectual Property Narae Program...

Busan City Hall. Busan City has launched a project to enhance the competitiveness of startup companies through customized intellectual property support.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City, the Korean Intellectual Property Office, and the Busan Branch of the Korea Invention Promotion Association (Busan Intellectual Property Center) are promoting the ‘2020 IP Narae Program 2nd Support Project’ to guarantee and support the rights of intellectual property held by startup companies.

The ‘IP Narae Program Support Project’ is a program designed to enhance the business competitiveness of small and medium-sized enterprises in the Busan area by establishing intellectual property business strategies from the early stages of business, helping companies utilize customized intellectual property rights in management. It provides convergence consulting on technology management to foster companies with technological competitiveness.

This project started in 2017 and has supported 34 companies annually. This year, support for startup companies has been expanded. With a budget of 1.3 billion KRW, which is 500 million KRW more than previous years, it plans to support 55 companies. In April, 34 companies were selected and are currently being supported in the first round, and now 21 companies are being recruited for the second round.

Companies wishing to participate can access the ‘Regional Intellectual Property Center (RIPC) Support Project Application System’ by 10 a.m. on June 29 and select the Busan Intellectual Property Center.

Twice the number of companies to be recruited will be selected and, after on-site inspections and deliberations by a review committee composed of patent attorneys and other experts, the companies will be finalized by the end of July. Selected companies will receive support tailored to their growth stages, such as analysis of domestic and international market trends regarding technology, intellectual property management strategy consulting, and customized consulting for companies.

Byun Sung-wan, Acting Mayor of Busan, said, “This support project will be a great opportunity for startup companies to discover new technologies using intellectual property rights, which are key in the era of the 4th Industrial Revolution.”

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