Ministry of SMEs and Startups to Support Startups with up to 50 Million Won... Recruiting for 'Public-Private Cooperation Open Innovation'

Large and Mid-sized Companies Enter New Businesses
Startups Gain Opportunities to Acquire Management Skills

The Ministry of SMEs and Startups announced on the 13th that it is recruiting large and medium-sized enterprises and startups to participate in the demand-based track of the 'Public-Private Cooperation Open Innovation Support Project.'

Through this announcement, about 20 startups will be selected and provided with up to 50 million KRW in commercialization funds for each company. In addition, eligibility to apply for the 'Startup Growth Technology Development' project will be granted, allowing for future research and development (R&D) funding support (up to 1 year, 120 million KRW).

[Image source=Yonhap News]

Starting this year, the 'Public-Private Cooperation Open Innovation Platform,' which allows direct online exploration of startups with innovative technologies, will be fully operated.

It is expected that with active participation from many companies, continuous collaboration between large and medium-sized enterprises and startups will be realized through the platform.

Lee Junhee, Head of the Technology Startup Division at the Ministry of SMEs and Startups, said, “We ask for the interest and participation of many companies,” adding, “We hope that many startups will have the opportunity to receive commercialization funding and acquire management technologies from large and medium-sized enterprises through the OI support project.”

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