Ministry of Science and ICT Launches ICT R&D Innovation Voucher Support Project Worth 54.3 Billion KRW

[Asia Economy Reporter Eunmo Koo] The Ministry of Science and ICT (MSIT) announced on the 10th that it will hold an explanatory session for the ‘2022 ICT Research and Development (R&D) Innovation Voucher Support’ project from the 11th to the 20th and will begin full-scale support.

This project supports small and medium-sized ventures and mid-sized companies lacking ICT capabilities to quickly commercialize and productize by receiving necessary ICT from research institutions such as government-funded research institutes and universities. This year, 91 new small and medium-sized ventures and others will be selected to receive approximately 54.3 billion KRW (33.9 billion KRW for new projects) in support.

ICT R&D Innovation Voucher Support Project Support Structure

Additionally, to help small and medium-sized ventures develop the technology necessary for commercialization, changes in development direction and performance goals are allowed during the project execution. Even after the project ends, the ministry plans to identify commercialization difficulties and provide information on various follow-up support projects such as testing and certification, patent creation, overseas expansion and marketing, as well as support investment attraction activities.

Furthermore, MSIT will hold regional on-site explanatory sessions to enhance understanding of the project and expand corporate participation. Companies and research institutions wishing to participate in the explanatory sessions can check the schedule and attend through the Information and Communication Planning and Evaluation Institute website without any separate registration process.

Song Sang-hoon, Director of the Information and Communication Industry Policy Bureau at MSIT, said, “We will do our best to promote ICT-based convergence for small and medium-sized ventures struggling due to COVID-19, create new markets, and realize the Digital New Deal.”

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