Ministry of SMEs and Startups: "Excellent R&D Innovative Products Achieve 1.8 Billion KRW in Public Procurement Within One Month"

[Asia Economy Reporter Moon Hyewon] The Ministry of SMEs and Startups announced on the 2nd that public procurement worth 1.8 billion KRW occurred within about a month from the first batch of excellent research and development (R&D) innovative products designated on July 21.

The Excellent Research and Development Innovative Product Designation System is a system newly introduced this year that supports initial market entry through direct contracts with public institutions by separately designating products that have succeeded in technology development (R&D) supported by the Ministry of SMEs and Startups and have excellent innovation and public value.

The Ministry of SMEs and Startups is supporting product promotion and matching with demand public institutions so that the 44 innovative products designated in the first round can grow based on public procurement.

Zebra & Sequence Co., Ltd. signed contracts worth 800 million KRW with Korea Airports Corporation and Siheung City, Gyeonggi Province for smart crosswalks that include child traffic accident prevention and missing person face recognition functions, and Procom System signed a contract to supply a power system fault diagnosis and automatic notification system to Korea Water Resources Corporation for 130 million KRW.

In addition, Reset Company supplied an unmanned solar panel cleaning robot to Incheon International Airport Corporation, JOTEC supplied flammable material storage cabinets to Korea Gas Technology Corporation, and EOLEX supplied corrosion inhibition equipment to Jeonju City Hall.

Solji supplied a purifier that removes moisture contaminants to Korea Southern Power Co., Powell supplied a miniaturized and lightweight arc welder to the Navy Logistics Command, and Dalmasian Jechungguk supplied eco-friendly pest control insecticides to the Rural Development Administration, confirming continuous achievements.

A total of 156 SMEs and startups applied for the second round of excellent research and development innovative product recruitment, which closed on the 14th.

By sector, SMEs and startups applied as follows: mechanical materials 28.8% (45 companies), information and communication 23.7% (37 companies), electrical and electronics 20.5% (32 companies), bio-medical 10.8% (17 companies), and chemical 8.9% (14 companies).

The Ministry of SMEs and Startups plans to complete the designation of innovative products next month after reviewing technological innovation performance and public utilization through document and on-site evaluations.

Won Youngjun, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, said, “The innovative product designation system, introduced to support the initial market entry of SMEs and startups facing difficulties in sales channels despite achieving excellent technological results, is rapidly spreading achievements through cooperation with public institutions,” and added, “The Ministry of SMEs and Startups will continue multifaceted support so that this growth momentum can create a virtuous cycle of technological innovation in SMEs and startups and improved service quality in the public sector.”

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