'BMW Startup Garage' Participating Companies Selected for Government Support Program
[Asia Economy Reporter Suyeon Woo] Seoul Robotics, a company participating in the BMW Startup Garage program, announced on the 1st that it has been selected as a global demand-linked company for the strategic technology-type international joint research and development (R&D) project implemented by the Ministry of Trade, Industry and Energy and the Korea Institute for Advancement of Technology (KIAT).
Seoul Robotics, one of the five companies selected this time, will receive government support for the next three years to develop an infrastructure system that realizes smart solutions within BMW production plants.
The BMW Startup Garage, conducted at the BMW Group level, is a program that lays the foundation for Korean technology to expand globally. The BMW Group supports promising startups not only through financial aid but also by jointly verifying whether unfinished services or technologies of venture companies can be commercialized, and by purchasing the released prototypes.
The BMW Startup Garage is conducted in five countries worldwide, including Germany, China, Israel, the United States, and Korea, with a particular focus on developing and advancing automotive manufacturing technology by integrating Korea’s advanced IT and communication technologies.
In addition, BMW Group Korea continuously plays a bridging role to help Korean companies enter the global market through steady technological partnerships with domestic companies. To date, the number of first-tier Korean suppliers to BMW headquarters totals 28, with contract amounts reaching 27.3 trillion KRW from 2009 to 2029.
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Meanwhile, the strategic technology-type international joint R&D project promoted by the government aims to secure early technology in preparation for the 'post-COVID' era by selecting and supporting necessary fields. Among these, the ‘global demand-linked’ project is a government support program that helps domestic companies expand overseas.
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