Gyeonggi-do Receives 99 Applications for R&D Company Support... 150 Million KRW per Company
Gyeonggi Province received applications from 99 companies for the 'Gyeonggi-do R&D First Step Corporate Research Institute Support Project,' which is being launched for the first time this year to enhance corporate technological competitiveness and strengthen regional innovation capabilities, recording a high competition rate of 10 to 1.
Gyeonggi Province announced on the 7th that as of the end of last month, 99 companies applied for the selection of 10 companies after the application period for the '2023 Gyeonggi-do R&D First Step Corporate Research Institute Support Project' closed.
This project is a pledge of the 8th term of the provincial government, selecting technology-based companies that have newly established corporate-affiliated research institutes or have relocated to the province from other local governments within less than one year, and supports their technological innovation and growth through initial research and development (R&D) funding. The province will provide up to 150 million KRW annually to the 10 selected projects.
The province views the high competition rate in the first year of implementation as reflecting the strong on-site demand and expectations of local companies that have been in the blind spot of R&D support.
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Choi Hye-min, Director of the Digital Innovation Division of Gyeonggi Province, stated, "The high competition rates for the Gyeonggi-do R&D First Step Corporate Research Institute Support Project and the Gyeonggi-do Technology Development Project indicate the strong demand for research and development and technological innovation among local companies. We will select excellent projects through a fair evaluation process and continue to support companies in enhancing their technological competitiveness and sustaining innovative growth."
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