Recruitment of SW High-Growth Club Target Companies... 20 Billion KRW Invested Next Year to Support 143 Companies

by Cho Seulkina

Published 17 Dec.2020 12:00(KST)

[Asia Economy Reporter Seulgina Jo] The Ministry of Science and ICT announced that from the 18th to January 18th, it will recruit target companies for the ‘Software High-Growth Club 200’ project, which supports promising software companies.

This project identifies high-growth companies on a high-growth trajectory and prospective high-growth companies (less than 7 years since establishment) expected to achieve high growth, and supports their sustainable growth for up to 2 years through autonomous project budget support and expert consultation. Last year, 60 companies were supported, and this year, including continuous support (53 companies), a total of 114 companies were supported.

Considering the high interest of software companies next year, the project scale has been expanded from 16.1 billion KRW to 20 billion KRW compared to the previous year. A total of 143 companies will be supported, including 88 newly selected companies and companies receiving continuous support for 2 years.

These companies will be provided with expert support team close consultation, connections with large corporations and investors, mutual exchanges for cooperation among companies, and company promotion so that they can carry out growth tasks autonomously designed by the companies within 300 million KRW per year for high-growth companies and within 100 million KRW per year for prospective high-growth companies for up to 2 years.

Additionally, among the selected companies, 8 companies requiring innovative technology development will be selected later and receive additional technology development costs ranging from 150 million KRW to 400 million KRW per year.

Song Kyung-hee, Director of Software Policy at the Ministry of Science and ICT, stated, “Through the ‘Software High-Growth Club 200’ project, we will actively support our capable software companies to grow into global companies,” and added, “We hope that many innovative software companies will apply and use this opportunity to lead the 4th Industrial Revolution and become companies that lead the global software industry.”