Ministry of SMEs Supports Samsung Electronics and 5 Fabless Startups

The Ministry of SMEs and Startups announced that it will promote the '2023 Fabless Challenge Competition' to foster promising fabless startups and spread a culture of win-win cooperation between large and small-to-medium enterprises, and will begin recruiting startups to participate from the 3rd.

The Fabless Challenge Competition is a program jointly operated by the Ministry of SMEs and Startups and Samsung Electronics that provides promising fabless startups with prototype (MPW) production costs and opportunities to create new products. It started last year, and this year plans to select five startups.

Applicants must be fabless startups within 10 years of establishment that wish to use Samsung Electronics Foundry's MPW process. Starting with the recruitment of companies on this day, a step-by-step evaluation including document and presentation assessments will be conducted, with final selections planned for next month.

The selected companies will have priority access to Samsung Electronics Foundry's MPW production process and receive up to 100 million KRW in cost support per company. Additionally, from this year, selected companies can receive technical support from Samsung Electronics for each project to facilitate smooth MPW production.

Lee Young, Minister of SMEs and Startups, stated, "Fostering promising fabless companies is more important than anything else for our country to secure competitiveness in the system semiconductor field," and added, "We will continue to promote the growth and global expansion of promising fabless startups through the Fabless Challenge Competition and the Super-gap Startup 1000+ Project."

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