SBA Seeks Companies for Technology Commercialization Support... R&D Funding of 50 Million KRW Available

Seoul Business Agency (SBA) announced on the 8th that it is recruiting companies to participate in the "2021 Technology Commercialization Support Project," which provides up to 50 million KRW in research and development (R&D) funding per project.
[Photo by Seoul Business Agency]

[Asia Economy Reporter Junhyung Lee] The Seoul Business Agency (SBA) announced on the 8th that it is recruiting participating companies for the '2021 Technology Commercialization Support Project,' which provides up to 50 million KRW in research and development (R&D) funding per project.

Companies wishing to participate can choose between the open evaluation type, which focuses on technology development, and the crowdfunding type, which supports verification of global marketability. The crowdfunding type is open for applications until the 23rd of this month, and the open evaluation type until the 25th. Eligible applicants are corporations and individual businesses located in Seoul that possess proprietary technology and commercialization capabilities. There are no restrictions on technology fields.

This year’s project has expanded support beyond simple R&D funding to help participating companies scale up through the evaluation and support process. During the application process, technology, marketing, and investment experts will conduct technical reviews and consulting. For the crowdfunding type, SBA explained that marketability can be verified through domestic and international crowdfunding platforms, offering opportunities to enter the global market. The open evaluation type also connects companies with venture capitalists (VCs) and MDs (Merchandisers) for follow-up investment and marketing support tailored to the company’s situation.

Kim Sung-min, Head of SBA’s Innovation Growth Division, said, “SBA’s R&D support is characterized by going beyond funding to help startups’ developed technologies and products establish themselves in the market.” He added, “We will support companies’ technologies to have marketability and expand into the global market, making the Technology Commercialization Support Project a new growth stage for Seoul startups.”

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