Commercialization Support Cuts Time to Market, Say Science and Technology Firms

"Led to Startups and Sales"
Gwahak Gisul Saneophwa Jinheungwon Reviews Outcomes of Support Projects

Companies that received commercialization support from the Ministry of Science and ICT have continued to generate results such as sales growth and overseas expansion even after their projects ended. The funding provided in the early commercialization stage and the advancement of their technologies are being evaluated as key turning points for entering the market.

An event hosted by the Science and Technology Industrialization Promotion Agency is being held. Photo by Science and Technology Industrialization Promotion Agency

On the 24th, the Gwahak Gisul Saneophwa Jinheungwon held a roundtable with companies that have steadily created economic outcomes such as attracting investment and generating sales after completing commercialization support projects funded by the Ministry of Science and ICT.

At the roundtable, officials from companies that participated in projects completed over the five years from 2020 to 2024 attended and reviewed how much the support contributed to their growth, as well as directions for additional support going forward.

Choi Jaewon, Chief Executive Officer of the medical device company Avantirix, said, "Through the support project, we were able to advance our business model and received help in navigating stringent medical device regulations and administrative procedures." He added, "We were able to overcome the critical hurdle of applying for clinical trials, and a foundation was laid for our technology startup to move on to the next stage."

Park Myunghwan, Chief Executive Officer of N2B, also said, "At the startup stage, long-term support allowed us to foster research personnel and build a stable research environment," adding, "We successfully expanded our business areas and connected that expansion to launching a startup."

The need for support aimed at expanding into overseas markets was also raised. Park Heongyun, Chief Executive Officer of Solarino, who won the CES Innovation Award for two consecutive years after completing the project, said that although the company confirmed overseas demand, it is difficult for a small or medium-sized enterprise to independently pioneer global markets. He noted, "Support for participating in international exhibitions after founding the company would likely help companies expand globally."

Samjung Solution and Nanoscopesystems likewise stressed that additional demonstration and linkage to demand are necessary after productization.

Kim Byeongguk, President of the Gwahak Gisul Saneophwa Jinheungwon, said, "This roundtable was not only an opportunity to review the performance of the support programs, but also a venue where we could directly identify corporate needs after the support ended," adding, "We will ensure seamless support for the newly launched 'Public Research Outcomes Demonstration Pilot Project' this year, and we will also strengthen initiatives such as support for participation in global exhibitions that we are preparing for this year."

The Gwahak Gisul Saneophwa Jinheungwon plans to strengthen its full-cycle technology commercialization support system so that support outcomes can be linked to investment, market access, and R&D. Through this, it aims to go beyond short-term project results and establish a foundation for the sustainable growth of technology-based companies.

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