TIPA Supports Technology Development for SME Tech Startup Companies

[Asia Economy Reporter Kim Jong-hwa] The Korea Technology and Information Promotion Agency for SMEs (TIPA) is supporting technology development for startups in the technology sector.

TIPA announced on the 16th that it has re-announced the '2022 Startup Growth Technology Development Project 1st Phase (First Half) Strategic Type (Growth Engine) Implementation Plan' and is additionally recruiting participating SMEs from the 14th of this month until July 4th.

The support areas are the 'Growth Foundation Fields' within the SME Technology Roadmap, which presents R&D milestones for SMEs. These include a total of 9 fields and 46 items such as organic materials, ceramics, metals, composite materials, textiles, electrical and electronic components, semiconductor and display equipment, precision machinery, and general machinery, which are foundational fields for promising technology growth.

The government supports 90% of the R&D expenses, providing up to 300 million KRW over a maximum of 2 years. Eligible applicants are startups established within the last 7 years with annual sales under 2 billion KRW in the most recent year.

Among the required documents for application, the Startup Company Verification Certificate takes at least 10 days to be issued, so it should be prepared in advance. Applications and issuance of the Startup Company Verification Certificate can be done through the 'Startup Company Verification System,' and other submission documents are detailed in the announcement.

Lee Jae-hong, Director of TIPA, said, "Through this R&D support in the growth foundation fields, we hope to secure momentum so that an ecosystem for future promising technologies can be established." Detailed information about the project can be found through the SME Technology Development Project Integrated Management System.

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