Ministry of Environment Announces 2nd Innovative Water Companies Contest... R&D and Commercialization Support for 10 Firms
[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Environment announced on the 1st that it will hold the 2nd public recruitment for innovative water companies. Ten innovative water companies will be selected to support research and development and commercialization.
The designation and support system for innovative water companies is a program to discover small and medium water companies and nurture them into strong water companies with global competitiveness. Ten companies are designated annually, and it was first introduced last year.
This year's recruitment period is from the 2nd to April 11th. Companies wishing to be designated as innovative water companies can submit an application form to the Korea Water Industry Council.
To be designated as an innovative water company, a water-related small and medium enterprise must meet two of the following conditions: a research and development ratio of 3% or more of sales for two years, an export ratio of 5% or more, and acquisition of overseas certifications.
The Ministry of Environment plans to select the 2nd innovative water companies through 'preliminary review - first evaluation - second evaluation - designation review' for water companies that applied for the recruitment and operate a customized support process.
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Once designated as an innovative water company, they can receive customized support such as ▲ diagnosis of water company status and design of research and development (R&D) strategies ▲ improvement of water company research facilities ▲ standardization of innovative products ▲ local pilot application and technical verification ▲ production of customized prototypes for overseas markets ▲ acquisition of international certifications and supplier (vendor) registration ▲ joint overseas local research and development ▲ development of overseas water market channels.
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