TIPA Strengthens Expertise and Fairness in Selection Method for Startup Growth Technology Development Project

Announcement for Institution-Recommended Project Applications: Apply by the 5th of Next Month

[Asia Economy Reporter Kim Jong-hwa] The Korea Technology and Information Promotion Agency for SMEs (TIPA) announced on the 2nd that it will recruit participating SMEs for about 40 days from the 22nd of this month to the 5th of next month, following a new announcement on the 26th of last month for the recruitment of institution-recommended projects under the '2021 Startup Growth Technology Development Project Didimdol Project.'

The project selection method through institution recommendation has expanded the number of recommending institutions from 5 to 7 compared to last year. Each recommending institution designated by TIPA conducts a separate preliminary evaluation by linkage type, and R&D funds are provided to excellent companies recommended by the recommending institutions.

TIPA has so far utilized the network of recommending institutions by linkage type to provide preferential support such as exemption from document evaluation and additional points to recommended excellent companies. As a result, out of 446 excellent companies recommended by recommending institutions, 119 companies (27%) were finally selected and received about 16.5 billion KRW in R&D funding.

Starting this year, to further strengthen expertise and fairness in the Didimdol project selection method, the number of recommending institutions by linkage type has been expanded from 5 to 7, and the recommendation criteria have been diversified to broaden the scope for various types of excellent startup companies to participate.

Through this, the function of selecting excellent companies from various recommending institutions is utilized, increasing opportunities to discover excellent startup companies that have been verified once in terms of technology performance and marketability in the private sector. Also, the evaluation procedure has been improved by changing from the existing step-by-step evaluation method (2 steps: document + face-to-face) to a one-stop evaluation method (1 step), enabling recommended selected companies to receive R&D support more quickly.

Applications for the project can only be submitted by companies recommended by recommending institutions from the 22nd of this month until 6 p.m. on the 5th of next month. Detailed information can be found through the comprehensive management system for SME technology development projects.

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