Junggyeonryeon Launches Full-Scale Support for Discovering New Growth Engines Based on Startups

Recruiting Startups for Open Innovation Program 'I’M Challenge'

The Korea Federation of Medium-sized Enterprises announced on the 22nd that it is recruiting startups to participate in the 'I’M Challenge,' a program designed to support the discovery of new growth engines based on collaboration with startups.

This program involves nine medium-sized enterprises hoping to enter new business fields, including Sempio Foods, Korea Carbon, Shinyoung, YG-One, JStech, Namyang Nexmo, and Hwashin.

Junggyunryeon

'I’M Challenge' is the first project promoted as part of a business agreement signed last month between the Federation, the Seoul Business Agency, and the Korean Standards Association. Startups will be provided with business matching opportunities such as one-on-one meet-ups, and selected companies will receive various benefits including residency at the Seoul Startup Hub and funding for business verification.

The Federation plans to discover additional medium-sized enterprises to expand matching and, in collaboration with the Korea Testing Laboratory, offer up to a 15% discount on technology testing and certification services for medium-sized enterprise-startup cooperation.

Choi Hee-moon, Executive Director of the Federation, stated, "The experience and infrastructure of medium-sized enterprises combined with the innovation and creativity of startups are the core pillars of new growth engines in the era of the Fourth Industrial Revolution," adding, "We will do our best to support the creation of a breakthrough that can revive the dynamism of Korea’s industry in Magok, Seoul."

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