Seoul City Provides 9.5 Billion KRW Budget Support for 'Testbed Seoul' Project... Up to 400 Million KRW per Task

3 Years, 28.4 Billion KRW Support for 72 Innovative Technologies...511 Billion KRW Domestic and International Sales and 37.6 Billion KRW Investment Attraction through Verification Certificates
Expansion into 31 Countries including Indonesia, Japan, and Hong Kong

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 5th that it will support the 'Testbed Seoul' project with a budget of 9.5 billion KRW this year to assist corporate demonstration efforts.

Seoul provides small and startup companies with opportunities for one-year 'field tests (demonstrations)' in public sectors of Seoul for products and services that are on the verge of commercialization using innovative technologies related to the 4th Industrial Revolution. It also supports up to 400 million KRW per project. The 'Testbed Seoul' project offers demonstration sites such as subways, roads, schools, and hospitals as testing grounds for companies possessing innovative technologies in AI, IoT, robotics, drones, and other 4th Industrial Revolution fields to support their commercialization and market development.

For companies that pass the final evaluation and complete the demonstration, Seoul issues a 'Demonstration Confirmation Certificate (Reference)' under the name of the Seoul Metropolitan Government, which can be used to explore domestic and international markets. Customized follow-up support such as intellectual property rights, marketing, and investment consulting will also be provided to promote full-scale commercialization of innovative technologies.

Over the past three years, Seoul has achieved 16.3 billion KRW in public procurement, 34.6 billion KRW in overseas exports, and 37.6 billion KRW in investment attraction. The countries entered include Brazil, Indonesia, Japan, Hong Kong, and others, with Korean companies' innovative technologies reaching 31 countries worldwide. During these three years, 72 innovative technologies were selected and given demonstration opportunities at 107 municipal sites such as subways and roads, with 28.4 billion KRW in demonstration costs supported.

The Testbed Seoul demonstration project accepts applications year-round and in real-time online through the 'New Technology Reception Center,' where the progress of selection evaluations can also be checked in real time.

Hwang Bo-yeon, Director of the Economic Policy Office, stated, "We will further expand support for innovative technologies that can contribute to solving urban problems in Seoul that citizens can directly experience."

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