Ministry of SMEs and Startups Strengthens Cooperation with Siemens in Startup Sector

Minister Oh Young-joo and Tony Hemmelgarn, CEO of Siemens DISW
Discuss Strengthening Cooperation in the Startup Sector
Korea Startup Promotion Agency and Siemens DISW Sign MOU

The Ministry of SMEs and Startups is strengthening cooperation with Siemens, a global electrical and electronics company, in the startup sector.

On the 11th, Oh Young-joo, Minister of SMEs and Startups, met with Tony Hemmelgarn, CEO of Siemens Digital Industries Software (DISW), to discuss ways to enhance collaboration in the startup field.

[Image source=Yonhap News]

Since 2021, the Ministry of SMEs and Startups has agreed with Siemens DISW to jointly discover and nurture promising manufacturing startups through a global corporate collaboration program, operating the 'Jijunghae' program to support about 20 startups annually. 'Jijunghae' signifies Siemens and the Ministry joining forces to support startups' overseas expansion. In 2022, to solidify the partnership, the Korea Institute of Startup & Entrepreneurship Development and Siemens DISW signed a memorandum of understanding (MOU) to operate the global corporate collaboration program.

Minister Oh Young-joo shared the collaboration achievements of the 'Jijunghae' program with CEO Tony Hemmelgarn and discussed ways to strengthen future cooperation. Starting this year, the 'Jijunghae' program expanded its support scale from about 20 to around 25 startups, and agreed to enhance the global capabilities of participating startups through connections with Siemens DISW headquarters. Siemens DISW also proposed operating a specialized program at a national technical high school under the Ministry of SMEs and Startups using Siemens' engineering software.

The Korea Institute of Startup & Entrepreneurship Development and Siemens DISW renewed the MOU by adding new provisions for mutual cooperation in marketing and networking support for startups, as the previous MOU had expired.

Minister Oh Young-joo said in the meeting, "'Jijunghae' is a representative public-private cooperative startup globalization support project of the Ministry of SMEs and Startups that has produced excellent results over many years," and added, "With the renewed MOU between the Korea Institute of Startup & Entrepreneurship Development and Siemens DISW strengthening the partnership, I hope to continue enhancing collaboration with Siemens DISW in the startup sector."

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