TIPA Collaborates with Public Institutions to Open New Markets for Innovative Products

Ministry of SMEs and Startups Innovation Product Pilot Purchase Evaluation and Matching Day Held

[Asia Economy Reporter Kim Jong-hwa] The Korea Technology and Information Promotion Agency for SMEs (TIPA) announced that it will hold an evaluation and matching day event at the Sejong Convention Center from the 29th to the 30th to support two-way communication between public sector buyers and companies designated as excellent research and development (R&D) innovative product enterprises.

Excellent R&D innovative products are those recognized for their public value and innovation to improve public services and technological innovation. TIPA discovers outcomes through SME technology development (R&D), designates them as innovative products, and supports SMEs' initial market entry through public sector direct contracts and pilot purchases.

Since 2020, after biannual evaluations and reviews, a total of 225 innovative products have been designated up to the first half of this year. These products are applicable in various public sectors such as industry, safety, energy, and environment.

TIPA has prepared this evaluation and matching day event to simultaneously support corporate growth and public quality improvement by encouraging more public institutions to take interest in and purchase the innovative products it has discovered so far.

The evaluation on the 29th is an event where public institutions participating in the Ministry of SMEs and Startups' innovative product pilot purchase project introduce their projects and share successful pilot utilization cases with innovative product designated companies, laying the foundation for activating follow-up purchases.

Six affiliated organizations under the Ministry of SMEs and Startups, including TIPA, the Korea Technology Finance Corporation, and the Korea Institute of Startup & Entrepreneurship Development, will participate, promoting and communicating innovative products that can be introduced to affiliated organizations through product introductions, demonstrations, and purchase consultations of 32 innovative product designated companies.

On the 30th, a meeting between public institutions in the energy sector and innovative product designated companies will take place. A total of 32 companies will participate, including 22 innovative product designated companies under the Ministry of SMEs and Startups and 10 innovative product designated companies from the Energy Technology Market. The public sector will be represented by 10 institutions, including Korea Electric Power Corporation and Korea Gas Corporation.

Among the innovative product designated companies, 16 companies that are applicable to energy sector public institutions and have requested purchase consultations will present innovative products by session, such as energy development and industrial development. After the presentations, autonomous networking will be conducted at exhibition booths prepared for each participating institution and company, including innovative product demonstrations, company introductions, and purchase consultations.

Lee Jae-hong, President of TIPA, said, "We will continue networking events so that innovative products can be widely promoted and applied in the public sector," adding, "We will play a role in enabling the public sector to purchase innovative products more actively and proactively."

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