Ministry of SMEs and Startups-Samsung Electronics, Recruiting Participating Companies for the 'Fabless Challenge Competition'

Priority Provision of Samsung Electronics Foundry Prototype Production to Selected Companies
Linkage with Cost Support and Follow-up Programs by the Ministry of SMEs and Startups

[Image source=Yonhap News]

[Asia Economy Reporter Kwak Minjae] The Ministry of SMEs and Startups announced on the 29th that it is recruiting design-specialized companies (fabless) to participate in the 'Fabless Challenge Competition.'

The Fabless Challenge Competition was established through cooperation between the Ministry of SMEs and Startups and Samsung Electronics to alleviate production difficulties of design-specialized companies in the system semiconductor sector and support innovative growth.

Eligible applicants are startups within 7 years of establishment or companies selected and participating in the Ministry's 'BIG3 Innovation Sector Startup Package' project. Starting with the recruitment announcement on the 29th, companies will be evaluated in stages, and up to five companies will be finally selected by the 25th of next month.

Selected companies will receive linked support including ▲priority access to prototype manufacturing processes at Samsung Electronics Foundry ▲financial support up to 100 million KRW per company ▲priority selection when participating in next year's BIG3 Innovation Sector Startup Package project by the Ministry.

Companies wishing to participate in the competition can apply through the Startup Support Portal website. The application period is until the 13th of next month. Detailed information can be found on the Startup Support Portal website or the Corporate Plaza.

Oh Ji-young, head of the Future Industry Strategy Team at the Ministry of SMEs and Startups, stated, “Due to the persistent foundry supply shortage following COVID-19, innovative fabless companies are facing difficulties in developing new technologies and products. We expect that this competition will promote the growth of innovative and creative fabless companies and contribute to a mutually beneficial system semiconductor ecosystem through private sector collaboration.”

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