About 4.4 Billion Won Invested This Year in 'SME Technology Commercialization Capacity Enhancement'

Recruitment of Participating Companies for the Project Until the 14th of Next Month

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 30th that it is recruiting companies to participate in the 'SME Technology Commercialization Capacity Enhancement Project.'

The SME Technology Commercialization Capacity Enhancement Project supports successful commercialization by providing ▲technology commercialization diagnosis ▲commercialization planning ▲market validation ▲market-friendly function improvement to SMEs that possess technologies or patents that have not yet been commercialized. The annual budget for this year is 4.35 billion KRW. Companies can apply to participate in the project until the 14th of next month.

The Small and Medium Business Corporation classifies companies into promising commercialization companies, technology enhancement promotion companies, and companies possessing commercialization technology based on the level of technology completeness, marketability, and commercialization capacity through technology commercialization diagnosis. They plan to increase the chances of success through customized support.

Commercialization planning supplements marketability based on expert mentoring for planning new business models. Market validation supports market tests, performance tests, and prototype production for technologies that can be commercialized within a short period. Market-friendly function improvement supports performance enhancement of owned technologies.

The costs for technology commercialization diagnosis and commercialization planning are fully supported by the government. For market validation, up to 50 million KRW can be supported within 75% of the project cost. Market-friendly function improvement supports up to 100 million KRW within 65% of the project cost.

Kim Yangho, head of the Diagnostic Technology Department at the Small and Medium Business Corporation, said, "We restructured the project to be demand-oriented and expanded the pool of experts so that companies can directly designate experts," adding, "Even after support, we will assist so that excellent technologies possessed by SMEs can shine through linked support programs."