Patent Office Supports Intellectual Property Commercialization for Companies in Daejeon, Jeju, and Seongnam

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korean Intellectual Property Office (KIPO) is supporting the promotion of intellectual property commercialization for companies in the Daejeon, Jeju, and Seongnam regions.

KIPO announced on the 11th that it is recruiting companies to participate in the ‘2022 Intellectual Property Product Innovation Support Project’ in collaboration with Daejeon City, Jeju Province, and Seongnam City, Gyeonggi Province.

The project is implemented as a collaborative effort between KIPO and local governments, and company recruitment begins from today (the 11th).

Small and medium-sized enterprises (SMEs) located in each region that hold registered intellectual property such as patents, utility models, and designs can participate. The support scale is 15 companies in Seongnam, 10 in Daejeon, and 4 in Jeju. In Daejeon and Seongnam, SMEs established less than 7 years ago in each region are eligible, while in Jeju, SMEs located in the region can apply regardless of the length of business operation after establishment.

KIPO and local governments plan to help supported companies solve technical difficulties encountered during product development through intellectual property. Consulting will be provided in the form of new product planning, problem-solving, and product advancement processes for companies.

In particular, to enable practical investment attraction for companies, a budget of up to 80 million KRW per company (KIPO 50 million KRW, local governments 30 million KRW matching) will be invested in support such as prototype production, and opportunities to participate in investment attraction briefings will also be provided.

Through this, KIPO will also provide follow-up support to ensure smooth commercialization of participating companies’ products.

Applications can be submitted online by submitting an application form, each company’s intellectual property registration certificate, and various supporting documents. Daejeon and Seongnam applications can be submitted through the Korea Invention Promotion Association website by 6 p.m. on the 25th of this month, and Jeju applications can be submitted through the Jeju Industrial Information Service website by 6 p.m. on the 1st of next month.

Previously, KIPO supported a total of 18 SMEs on a pilot basis last year in collaboration with local governments including Daejeon and Seongnam.

Through this, Little One Co., Ltd. developed a smart bottle that automatically records breastfeeding logs and won the Innovation Awards at the ‘International Consumer Electronics Show (CES) 2022’.

For more detailed information about the Intellectual Property Product Innovation Support Project, please refer to the project announcement posted on the KIPO website.

Cho Gwang-hyun, Head of the Patent Commercialization Division at KIPO, said, “Through this project, we will support local SMEs to succeed in commercialization based on excellent intellectual property and grow into innovative companies.”

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