Recruiting 20 Innovative Startups Leading Technological Independence in SoBuJang

Participation of 48 Demand Companies Including Samsung Electronics and Hyundai Motor Group

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) announced that it will recruit 20 innovative startup companies to secure advanced manufacturing capabilities in the materials, parts, and equipment sector and create new markets.

'Materials, Parts, and Equipment Startup 100' is a project that has been discovering 20 startup companies annually in the materials, parts, and equipment sector since 2020, connecting them with the technology demands of large corporations to establish a stable domestic supply chain.

This year, 48 demand companies including Samsung Electronics and Hyundai Motor Group participated, presenting 75 technology demands such as 'Extreme Ultraviolet (EUV) equipment' and 'photocurable composite materials for 3D printing.' Through matching and collaboration with the selected startups, it aims to reduce foreign dependence in the materials, parts, and equipment industry and contribute to domestic substitution.

The selection evaluation for this year's applicants will be conducted in two stages?document review and presentation evaluation?focusing on the startups' potential capabilities and feasibility in terms of technology, growth potential, and scalability. Not only private experts but also purchasing and technical personnel from demand companies will participate throughout the evaluation process to discover startups that meet actual market demands and ensure smooth commercialization and supply chain formation.

Selected startups will receive up to 200 million KRW in commercialization funds along with linked support such as loans, guarantees, technology development, and investment attraction to achieve rapid commercialization results. Startups wishing to apply should prepare a business plan and technical introduction (RFP) and apply online through the K-Startup website from the 8th to the 29th.

Support Details for 100 Material, Parts, and Equipment Startups

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