Fostering Promising Technologies of Small and Medium Enterprises Not Yet Commercialized

Recruitment of Participating Companies for SME Technology Commercialization Capability Enhancement Project

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) announced on the 11th that it is recruiting companies to participate in the 'SME Technology Commercialization Capacity Enhancement Project,' which supports small and medium-sized enterprises (SMEs) that possess government R&D successful technologies or patented technologies but have no related sales or products produced.

The SME Technology Commercialization Capacity Enhancement Project diagnoses the success potential of promising technologies of SMEs that have not been commercialized and provides customized support such as commercialization support, market-friendly functional improvement (R&D), and technology transfer based on the results.

For tailored support, this project first conducts a technology commercialization diagnosis for each company as a preliminary step and classifies the support types into commercialization promising, technology enhancement promotion, and commercialization technology possession. Commercialization support selects 30 companies with excellent technology completeness and commercialization capacity but lacking marketability, providing up to 80 million KRW to utilize programs such as commercialization planning, product performance testing, and market marketing.

Market-friendly functional improvement support selects 18 companies with excellent marketability and commercialization capacity but insufficient technology completeness and provides up to 100 million KRW in technology development funds. Technology transfer support assists companies with excellent technology completeness and marketability but lacking commercialization capacity by supporting marketing of technologies through registration on technology transaction platforms and supporting technology transactions and protection through technology trust. Detailed information regarding project applications can be found on the Korea SMEs and Startups Agency website.

Won Young-jun, Director of Technology Innovation Policy at the Ministry, stated, "The Ministry will actively support strengthening the technological competitiveness of SMEs through customized support for each company’s technology commercialization."

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