TIPA, Recruiting Excellent R&D Innovative Products for Public Market Support

2023 Excellent R&D Innovative Products First Half Application and Registration

The Korea Technology and Information Promotion Agency for SMEs (President Lee Jae-hong, hereinafter TIPA) announced on the 24th that it is recruiting 'Outstanding R&D Innovative Products for the First Half of 2023' to support public market access for excellent products developed through R&D by small and medium-sized enterprises.

The Outstanding R&D Innovative Product designation system is a program that designates products developed through R&D support projects as innovative products if they demonstrate excellent technological innovation and public value, thereby supporting their initial entry into the public market.

Products designated as innovative products can be registered on the Innovative Products Comprehensive Portal (Innovation Market) and can enter direct contracts with central government ministries, local governments, and public institutions. They can also receive initial market support benefits such as the Innovative Product Pilot Purchase Project. Since 2020, TIPA has continuously discovered innovative products in various fields through this system. As of the end of last year, a total of 271 innovative products have been designated. Through active support to lead to public procurement, visible results were also achieved, with 117 designated innovative product companies signing public contracts worth 91.3 billion KRW in just one year.

Lee Jae-hong, President of TIPA, stated, "We plan to continuously discover excellent innovative products that face difficulties in pioneering initial markets," and added, "We will actively support designated innovative product companies to generate substantial public sales."

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