11 Innovative Products Supported by Public Procurement Service Win 'Innovation Awards' at CES
Innovative Products Supported by Public Procurement Service Win 'CES Innovation Award'
Domestic Innovative Companies Prove Global Technological Competitiveness
Strengthened 'Package' Support Combining Market Access and Finance This Year
Innovative products supported by the Public Procurement Service's (PPS) innovative procurement policy have also shone on the global stage.
The PPS announced on the 16th that 11 domestic innovative companies recently participated in 'CES 2024 (International Consumer Electronics Show)' held in Las Vegas, USA, and won the 'CES Innovation Award' with 11 innovative products.
The CES Innovation Award is given by the Consumer Technology Association (CTA) to products from companies participating in CES that demonstrate outstanding technological performance and innovation.
The 11 innovative companies that received this award are ▲ Coeye Inc. ▲ Ecopiece Inc. ▲ Hucasystem Inc. ▲ DeepBio Inc. ▲ Microsystem Inc. ▲ Cedronics Inc. ▲ Sheco Inc. ▲ DeepVisions Inc. ▲ Hucasystem Inc. ▲ RealDesignTech Inc. ▲ Exosystems Inc. ▲ Intin Inc. These companies are growing with support as part of the PPS's innovative procurement policy.
Innovative products designated by the PPS receive benefits such as exclusive contracts in public procurement, and the PPS supports initial market entry and performance improvement through domestic and international on-site demonstrations (testbeds) as part of pilot purchase projects. Nine companies on the award list received pilot purchase support from the PPS.
The 11 innovative companies awarded the CES Innovation Award possess technological capabilities in advanced fields such as artificial intelligence and robotics, and are focusing on product development aimed at improving consumers' quality of life in areas like eco-friendliness, health, and safety.
The PPS plans to increase the budget for on-site demonstration to improve technology from 40 billion KRW last year to 53 billion KRW this year, and strengthen package-type support combining market access and finance by holding investor relations (IR) sessions with policy financial institutions, to help innovative product-designated companies grow into global technology firms.
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Lim Gi-geun, Administrator of the PPS, said, “The fact that innovative products won the ‘CES Innovation Award’ in competition with world-renowned products proves the global technological competitiveness of domestic companies,” adding, “The PPS will continuously supplement and develop the growth ladder?from ‘Venture Nara → Innovation Market → Excellent Products’?in line with changes in the innovation ecosystem.”
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