"Gather 'Safety New Technologies'... Korea Occupational Safety and Health Agency Hosts Contest to Expand Safety Industry Market and Support Startups"

Ulsan Creative Economy Innovation Center Collaborates to Expand Market Access and Strengthen Technological Capabilities

Startup safety companies consulting and support at the 2020 Construction Safety Expo.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A competition to showcase skills in new ‘safety technologies’ is being held.

The Korea Occupational Safety and Health Agency (KOSHA, President Park Doo-yong) and Ulsan Creative Economy Innovation Center (Director Kim Jae-hoon) are conducting the ‘4th Safety New Technology Contest’ to support small and medium-sized enterprises (SMEs) possessing new technologies in the safety field.

The Safety New Technology Contest was established to support startups in the field, aiming to realize social values such as industrial accident prevention, expansion of the domestic safety industry market, and creation of quality jobs.

This year, 10 winning companies will be selected to receive prize money, develop market channels, and be provided opportunities to strengthen their technological capabilities.

Eligible participants are △venture and small and medium enterprises or prospective entrepreneurs within 7 years of establishment who possess products or services incorporating new technologies applicable to industrial site safety and health, and △SMEs with safety-related new technology development certification issued within the last 3 years.

Applications can be submitted by sending the application form via email from April 12 to May 14 by 6 p.m. Detailed information can be found on the websites of KOSHA and the Innovation Center.

Submitted documents will undergo first and second rounds of evaluation, with results announced in early June.

Selected companies will receive certificates along with prize money: Grand Prize (1 company) 10 million KRW, Gold Prize (2 companies) 5 million KRW, Silver Prize (3 companies) 3 million KRW, and Bronze Prize (4 companies) 1 million KRW.

Additionally, to support market development, a matching program will be provided to connect contest-winning companies (founders) with demand companies seeking new technologies.

A joint promotional booth will be set up at online and offline safety and health-related exhibitions to support product demonstrations and on-site contract consultations.

To strengthen the technological capabilities of selected companies, KOSHA will provide technology transfer of industrial property rights such as patents it holds, financial benefits for startup stabilization, technology protection programs, expert mentoring, and testbeds.

Since 2018, KOSHA and the Innovation Center have discovered and nurtured 23 startups, contributing to a total sales revenue of 16.13 billion KRW and the creation of 20 new full-time jobs for startup companies in 2020.

Park Doo-yong, President of KOSHA, stated, “We will provide maximum support so that new safety technologies can be applied to industrial sites and contribute to industrial accident prevention,” adding, “KOSHA will focus on not only preventing industrial accidents but also revitalizing the safety and health market and creating jobs.”

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