Ministry of SMEs Supports 11 Projects for Developing Smart Service Solutions for Small and Medium Enterprises

[Asia Economy Reporter Junhyung Lee] The Ministry of SMEs and Startups announced on the 26th that it is recruiting support projects for the second half of the year for the 'Smart Service Information and Communication Technology (ICT) Solution Development Project,' which will help innovate the service sector of small and medium-sized enterprises (SMEs). The application period is from the 26th to the 25th of next month.

The Smart Service ICT Solution Development Project supports the development of SME-exclusive solutions utilizing advanced digital technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Augmented Reality (AR). The goal is to enhance productivity in the SME service sector and create new customers and markets through high value-added services.

Earlier, the Ministry selected 24 projects in the first half of this year. A total of 347 projects applied, recording a competition rate of about 15:1.

To discover diverse projects like in the first half, the Ministry plans to recruit projects divided into matching type, standalone type, and consortium type. The matching type supports demand companies based on the on-site needs of specific companies; the standalone type supports supplier companies that develop solutions that can be used universally by service SMEs; the consortium type supports collaborative development through technological convergence among multiple supplier companies.

The Ministry will select a total of 11 projects and support up to 500 million KRW per project for demand company matching type and supplier company standalone type over two years, and up to 'number of participating companies (maximum 3) x 500 million KRW' for the consortium type.

SMEs wishing to participate in the project can apply from the 7th to the 25th of next month through the 'Comprehensive Management System for SME Technology Development Projects.'

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