Seoul to Invest 29.4 Billion Won to Foster AI and Biotechnology Innovation Companies

153 New Projects Selected for 'Seoul R&D'
Support Ranges from AI and Biotechnology to Quantum and Robotics
Initiatives Include Testbed Seoul and Technology R&D for the Underprivileged

The Seoul Metropolitan Government will invest 29.4 billion won to foster future technology innovation companies. It will focus on supporting six major next-generation industries, including artificial intelligence (AI), biotechnology, robotics, and quantum technology.

On September 17, the Seoul Metropolitan Government announced that it had finalized the selection of 153 new projects for the 2025 'Seoul R&D Support Program' and will begin providing tailored support ranging from technology development and demonstration to commercialization and global expansion.

The 'Seoul R&D Support Program' is the city's flagship research and development initiative, which has been driving the enhancement of technological competitiveness for small and medium-sized enterprises and revitalizing industries since 2005. In a reality where many companies possess excellent ideas and technological capabilities but struggle to take on challenges due to barriers such as a lack of development funding, limited opportunities for demonstration, and difficulties entering the market, the Seoul R&D program has played a pivotal role as a ladder for technological innovation by providing comprehensive support.

This year, a total of 41 billion won (including 29.4 billion won in new funding) will be invested to further advance a comprehensive support system that covers the entire process from technology development to global expansion, with a focus on the six major next-generation industries such as AI, biotechnology, robotics, and quantum technology. In particular, the city will promote the social diffusion of technology through the development of technology for underprivileged groups and collaboration with municipal administration.

A total of 1,186 projects were submitted for this call, resulting in an average competition rate of 7.8 to 1. Of these, 14.2 billion won will be concentrated on 71 projects in the six next-generation industries (AI, biotechnology, quantum, robotics, fintech, and creative industries). Notable selected projects include AIVIS's AI-based precision cancer diagnosis technology, which is collaborating with global pharmaceutical companies in the bio-medical field, and Safe Butler's AI real estate contract safety assessment platform, which was selected for Toss's 'App in Store' project in the fintech sector.

Tailored support for each stage of corporate growth will also be strengthened. The city has allocated 5.6 billion won to 33 projects, including the 'Seoul Innovation Challenge' (10 projects), 'Private Investment-Linked R&D' (8 projects), and 'Technology Guarantee Fund-Linked R&D' (15 projects).

Looking ahead, the Seoul Metropolitan Government plans to continue focusing on solving social problems through technology and laying the foundation for global expansion, with the goal of developing the Seoul R&D program into an "innovation platform that changes citizens' lives." The city aims to reinforce a virtuous cycle in which technologies developed in the field are directly utilized in municipal administration, and the results of corporate support feed back into administrative innovation.

Joo Yongtae, Director General of Economic Policy at the Seoul Metropolitan Government, stated, "In an era where technological competitiveness is synonymous with urban competitiveness, the Seoul R&D program is rapidly driving corporate growth by closely connecting all stages from technology development and demonstration to commercialization and global expansion." He added, "We will continue to strengthen strategic cooperation with the private sector and further accelerate the virtuous cycle of innovation in which technology brings real change to citizens' lives."