Ministry of SMEs and Startups Selects Operating Institutions for 'Living Lab Utilization Technology Development Project'

[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 23rd that it has selected the Ulsan Technopark and Ulsan Creative Economy Innovation Center consortium as the operating institution for the 'Living Lab Utilization Technology Development Project.'

The Living Lab Utilization Technology Development Project was newly introduced this year to significantly enhance the market success potential of small and medium enterprises by reflecting consumer preferences and convenience in all stages from planning, development, to demonstration.

The operating institution for this project supports the development of eco-friendly products by SMEs through systematic and comprehensive living lab operations, including ▲ concretizing ideas through consumer behavior analysis and conceptual design ▲ product development based on interaction between consumers and companies ▲ securing product acceptance through demonstration ▲ utilizing accumulated consumer preference data and securing public procurement channels.

Ten consortia participated in the selection of the lead institution this time. The consortium of Ulsan Technopark and Ulsan Creative Economy Innovation Center, which specifically proposed eco-friendly product development based on consumer preferences, environmental evaluation and certification, urban demonstration plans, and the use of consumer panels after the project completion, received the highest evaluation.

The consortium plans to build and operate a living lab platform and support consumer-customized product development where users directly participate in the planning and development stages of products.

Won Young-jun, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, stated, “With the selection of a capable operating institution, we expect it to play a significant role in product development that maximizes outcomes through consumer participation. We will spare no effort in supporting technology development by SMEs that respond to increasingly diverse consumer preferences.”

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