Ministry of SMEs and Startups Recruiting Companies for Technology Development Projects Utilizing Living Labs

[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 8th that it will begin recruiting companies to carry out the project 'Technology Development Utilizing Living Labs,' where consumers participate in the entire process from product planning to development, starting from the 12th.

The Living Lab Utilization Technology Development project was newly established this year to solve the difficulties small and medium-sized enterprises (SMEs) have faced in reflecting market demand in technological innovation. It supports customized product development through living labs that can expand the contact points between SMEs and consumers.

This project supports product development through stages: the 'planning stage,' which concretizes ideas through consumer behavior analysis and conceptual design; the 'development stage,' which maximizes interaction between consumers and companies to increase commercialization potential; the 'demonstration stage,' which secures product acceptance through user validation; and the 'diffusion stage,' which utilizes accumulated consumer preference data and secures public procurement channels. Fourteen SMEs will be selected for this project, and selected companies will receive up to 500 million KRW in support over two years.

Additionally, product development will proceed using the living lab platform established by the operating institutions (Ulsan Technopark and Ulsan Creative Economy Innovation Center), which were selected in March. Before selecting participating companies, the operating institutions plan to complete the formation of consumer and expert panels who will participate in the entire process from planning to development. These panels will review the appropriateness of selected projects, provide feedback to refine R&D plans, and support participation in commercialization stages such as product demonstration and usability evaluation.

Won Young-jun, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, stated, “We will actively support technological innovation in the eco-friendly sector for SMEs that meets market demand through active interaction with consumers.”

Detailed announcements can be found on the Pan-Government Integrated Research Support System or the Corporate Plaza. Applications for the project can be submitted online through the Ulsan Technopark’s enterprise support project management system from the 12th until June 7th.

Furthermore, on the 16th, the operating institutions will hold a simultaneous in-person and online briefing session to explain the research and development support using living labs, application methods, and conduct a Q&A session with attendees.

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