Jungjingong Selects 13 SME Policy Ideas

The 30th Small and Medium Venture Business Policy Idea Contest Award Ceremony

On the 24th, at the awards ceremony of the 30th Small and Medium Venture Business Policy Idea Contest held at the Korea Press Center, Kim Hak-do, President of the Korea SMEs and Startups Agency, is speaking.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 24th that it held an awards ceremony for the 13 final winning entries of the 30th Small and Medium Business Policy Idea Contest.

SBC has been operating a public participation idea contest since 1991. The innovative institutional operation plans and new business ideas discovered through the contest are linked and utilized as support projects that the public can directly experience. Representative cases reflected in policies include the 'Relaxation of Safety Test Standards for Automotive Drive Batteries' used in the designation of Regulatory Free Zones in 2019 and the 2018 proposal for 'Issuance of P-CBO for Innovative SMEs' R&D Investment.'

This year marks the 30th anniversary of the contest, which newly added a video category along with innovative policy idea reports. A total of 70 ideas were submitted across seven fields including innovative growth of small and medium enterprises, regulatory reform, and digital transformation.

SBC comprehensively selected the final winners through public online evaluation and expert review: 2 Grand Prize winners, 2 Excellence Award winners, 4 Merit Award winners, and 5 Encouragement Award winners. The Grand Prize winners were ▲'Establishment of Equipment Sharing Platform Tech-Share,' which helps increase utilization of idle equipment by jointly using facilities among large and small enterprises and research institutes, thereby supporting the production and technology development base of SMEs, and ▲'SME Carbon Capture-Government Purchase Virtuous Cycle Model,' which supports shared carbon capture facilities within industrial complexes and enables the government to purchase captured carbon for use in R&D projects.

Chairman Kim Hak-do stated, "This contest provided a great opportunity to suggest future directions to overcome the management difficulties of small and medium enterprises amid the triple crisis of COVID-19 resurgence, high interest rates, high inflation, and high exchange rates." He emphasized, "SBC will do its best to contribute to the innovative growth of small and medium enterprises by linking public ideas with support projects."

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