KOSME and LG Energy Solution to Identify Promising SMEs and Startups in K-Battery Industry

Recruitment of Companies for the 'K-Battery Open Innovation' Program

The Korea SMEs and Startups Agency (KOSME) announced on May 13 that it will launch the 'K-Battery Open Innovation' program in partnership with LG Energy Solution to identify promising small and medium-sized venture companies in the battery industry.

This program has been established to discover cutting-edge technologies in the battery sector among competent non-partner companies. The goal is to build a 'win-win cooperation model' that connects the technology demands of large corporations with the innovative solutions of SMEs and startups, as well as to provide policy support through public-private collaboration.

The program is open to proposals in four areas: ▲process defect detection technology ▲real-time battery condition diagnosis and prediction systems ▲next-generation process and equipment technology ▲battery cell resistance reduction technology. LG Energy Solution will present the key challenges for battery industry innovation, and SMEs will propose solutions to address these challenges.

Companies selected as finalists will have the opportunity to conduct joint Proof of Concept (PoC) testing with LG Energy Solution. If the commercialization potential is verified, options such as equity investment negotiations will be considered. KOSME plans to support the growth of these selected companies by linking policy funds and loans from private regional leading companies.

Applications will be accepted from May 13 to June 12. Applicants can check the announcement on the KOSME website and apply via the designated email address.

Kim Jeyoung, Executive Vice President and Chief Technology Officer (CTO) of LG Energy Solution, stated, "As the pace of technological competition in the battery industry is extremely fast, collaboration with external innovators is essential. Through open innovation, we aim to strengthen the foundation of the domestic battery industry together with promising SMEs and startups, and secure leadership in the global market."

Ban Jeongsik, Director of Regional Innovation at KOSME, commented, "The core of this program is to provide large companies with access to innovative technologies and offer SMEs and startups practical opportunities for commercialization. We will continue to serve as a bridge for cooperation between large corporations and SMEs, invigorate the regional economy, and contribute to the creation of a new industrial ecosystem."