Daegu City and Public Procurement Service Sign Business Agreement to Foster Venture Companies... Support Market Access for 'Innovative Products'

[Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] On the 3rd at 4 PM, Daegu City will sign a business agreement with the Public Procurement Service (Commissioner Kim Jung-woo) in the city hall situation room to spread the purchasing atmosphere of innovative products and to foster and support excellent startup and venture companies.

This agreement was prepared based on the recognition that it is necessary to help secure sales channels urgently needed by startups and venture companies by expanding the consensus on innovation-oriented public procurement policies through direct purchase of innovative products at the pre-commercialization stage by public institutions.

The 'Innovation Procurement System' is a system that creates initial demand for innovative products based on the purchasing power of administrative and public institutions, while simultaneously supporting the improvement of public services and securing sales channels for companies, thereby inducing innovation and growth in the private sector. 'Innovative products' refer to products recognized for their innovation among those that improve public services and designated by heads of each central administrative agency.

The main contents of the agreement include ▲ discovering demand and supporting sales channels for innovation in regional public services ▲ discovering and purchasing innovative products in the region ▲ participating in pilot purchase projects for innovative products and supporting demonstration ▲ discovering excellent startup and venture company products ▲ matters related to designation and registration of venture startup procurement products, etc.

Daegu City has focused policy support to strengthen the region’s startup capabilities centered on startup infrastructure such as Dongdaegu Venture Valley and the Creative Economy Innovation Center.

In particular, by turning the entire Daegu area into a testbed to enable the development and commercialization of innovative technologies, and through institutional and policy support such as establishing a new technology platform and a dedicated department since 2018, two innovative products have been discovered and registered.

As of the end of April, there are 15 innovative products designated by central administrative agencies in the Daegu area, developed by companies related to Daegu’s future new growth industries such as medical, water, and energy, utilizing advanced technologies like AI, VR, and robotics.

Mayor Kwon Young-jin of Daegu emphasized, "We will generously support creating a virtuous cycle structure by sharing the results of using innovative technologies with companies to utilize as feedback for their technology development, so that regional startup and venture companies can build competitiveness to enter public procurement."

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