Government to Foster 5,000 'Energy Innovation Ventures' and Train 20,000 Innovative Talents

[Asia Economy Sejong=Reporter Dongwoo Lee] The government plans to expand energy innovation ventures to 5,000 by 2030 and nurture 20,000 specialized talents in energy technology innovation.

The Ministry of Trade, Industry and Energy held an Energy Innovation Business Roundtable on the 15th at the Korea Technology Center in Yeoksam-dong, Gangnam-gu, Seoul, chaired by Minister Chang-yang Lee, where it announced the "Energy Innovation Venture Promotion Plan" with these details.

The ministry plans to double the number of energy innovation ventures from about 2,500 in 2020 to 5,000 by 2030. It set a goal to nurture 10 prospective unicorns (unlisted companies with a valuation between 100 billion KRW and less than 1 trillion KRW). To achieve this, it will establish a 600 billion KRW energy innovation venture investment fund and consider forming an "Energy Technology Cooperation University (ETU)" to intensively cultivate field-oriented talents through personnel exchanges among regional universities.

This year, a 100 billion KRW research and development (R&D) support fund will be formed. A 500 billion KRW hydrogen fund investing in hydrogen infrastructure and technology is also planned. The ministry is also considering establishing a dedicated investment fund that comprehensively evaluates greenhouse gas reduction contributions and invests in promising business models.

Additionally, through investments by energy public enterprises, an "Energy Wildcat" startup program will be established to support technology startups based on R&D with an annual investment of about 5 billion KRW. Wildcat ventures are high-risk but potentially highly profitable businesses.

Points will be awarded in various project selections such as public enterprise export support projects to assist overseas market entry, and digital marketing using online platforms will also be supported. In the first half of next year, the "C-Tech International Expo," showcasing excellent energy technologies, will be held. Furthermore, the ministry plans to nurture 20,000 specialized talents in energy technology innovation by 2030 through designating energy innovation research centers, expanding energy convergence graduate schools, and promoting international exchanges.

Outstanding university research labs will be designated as energy innovation research centers, increasing the number of research centers from the current 7 to more than 15 by 2025, and energy convergence graduate schools will be expanded from 13 to more than 20 by 2025. The plan to form an "Energy Technology Cooperation University (ETU)" to intensively cultivate field-oriented talents through personnel exchanges among regional universities is also under review. Research on ETU curricula and research exchange support methods is currently underway.

The ministry will form a "C-Tech Forum" centered on energy innovation ventures to serve as a platform for technology exchange and business cooperation among domestic and international venture capital and investment institutions, as well as industry, academia, research, and financial institutions.

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