111.9 Billion KRW Support for New Projects in Commercialization Technology Development This Year
Ministry of SMEs and Startups Supports Commercialization Technology Development to Promote Open Innovation
[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young) announced on the 10th that it will promote the '2023 SME Commercialization Technology Development Project' to activate open innovation. The SME Commercialization Technology Development Project is an R&D program that supports technology development cooperation between large enterprises and SMEs, between SMEs, and between overseas companies and SMEs. This year, 717 new projects will be selected and KRW 111.9 billion will be supported.
To promote open innovation, projects are selected and supported through prior technology demand discovery targeting demand companies, and procedures have been improved to give preferential treatment to newly cooperating SMEs. In particular, 30 pilot projects selected will not be subject to purchase and related contract obligations or cash payment burdens to secure challenge and explore new possibilities through cooperation between companies. In addition, cooperation between demand companies and SMEs in the service industry, which has significant employment and ripple effects, will be expanded to revitalize this sector.
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Furthermore, to promote the overseas expansion of SMEs, efforts to discover cooperative projects with global companies will be strengthened. Kim Woo-soon, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, said, "The commercialization technology development project has established a foundation for SMEs to secure competitiveness and stable profit generation through demand-based R&D support," adding, "In 2023, we will strengthen the strategic nature of cooperative R&D and support the achievement of commercialization results through the discovery of innovative projects."
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