Ministry of Science and ICT Holds Online Briefing on 'ICT Innovation Product and Service Development Support Project'

[Asia Economy Reporter Eunmo Koo] The Ministry of Science and ICT announced on the 18th that it will hold an online briefing session for the ‘2021 ICT-based Open Innovation Product and Service Development Support’ project at 2 p.m. on the 19th and will begin full-scale support.

This project aims to develop market-centered ICT innovative products and services by discovering ideas from the general public, developing and verifying business models, and then supporting user-participatory research and development. This year, it plans to support 10 tasks with a budget of 1.24 billion KRW. The Ministry of Science and ICT has been accepting applications for this project from the 10th of this month until March 12th.

The project will be promoted through a two-stage competitive planning support method. In the first stage, support will be provided for concretizing business models and verifying feasibility of ideas (6 months). Among the excellent results from the first stage, five tasks will be selected to receive support for technology development and commercialization in the second stage (15 months). In particular, during the second stage, support will be provided to maximize performance and increase user acceptance through the operation of living labs involving users of the respective products and services.

Applications can be submitted from the 25th until March 12th through the project management system of the Institute for Information & Communications Technology Planning & Evaluation (IITP). Detailed information such as announcements and application forms can be found on the websites of the Ministry of Science and ICT and the IITP.

Lee Seung-won, Director of the Information and Communications Industry Policy Division at the Ministry of Science and ICT, stated, “To realize the Digital New Deal, it is important to create an environment that leads to the creation of innovative ICT products and services through discovering creative ideas and supporting market- and demand-centered research and development. We will support excellent ideas selected through the contest to be commercialized in practice, enhancing convenience in people’s lives, improving public safety, and revitalizing companies.”

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