14 New Companies Added to In-House Venture Development Program
The Number of Companies Operating In-House Venture Development Programs Expanded to 73 in 2022
[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 23rd that it has expanded the number of companies operating the 'In-house Venture Nurturing Program' by selecting 14 additional companies, bringing the total to 73 companies.
A total of 23 companies applied for this operation company recruitment, and an evaluation panel composed of external experts such as startup planners focused on assessing the in-house venture nurturing capabilities and the concreteness of business plans, ultimately selecting 4 large enterprises, 2 mid-sized companies, and 8 small and medium enterprises.
Among the selected companies, KB Kookmin Card has been operating its own 'Innocept Program' since January last year to nurture in-house ventures, discovering in-house venture teams and supporting commercialization funds and independent office spaces, demonstrating excellent capabilities in nurturing in-house ventures. Additionally, Daehan Steel supports in-house venture teams with management consulting by external experts, research and development, and market development, and after spin-off, invests initial startup funds, establishing a support system utilizing internal and external resources for each growth stage.
The In-house Venture Nurturing Program is a project where the government supports commercialization for in-house venture teams and spin-off startup companies discovered in large, mid-sized, and small and medium enterprises to create an open innovation startup ecosystem. The selected operating companies play the role of recommending excellent in-house venture teams and spin-off startup companies they have discovered to the Ministry of SMEs and Startups. Since the program started in 2018, the Ministry has supported the commercialization of a total of 595 companies.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- "Why This Bonus Grade?" Civil Servant Who Assaulted HR Employee... Court Rules Demotion Is Justified
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
The Ministry plans to collaborate with a total of 73 operating companies, including the newly selected ones, to discover in-house venture teams and spin-off startup companies and provide up to 100 million KRW in commercialization funds and customized growth support programs.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
