Daegu Technopark Invests 3 Billion KRW in Emergency R&D Funds to Overcome COVID-19

Recruitment of Small and Medium Enterprises for Scale-up R&D Support Programs

Daegu Technopark (Daegu Venture Center) exterior view.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Daegu Technopark (Daegu TP) announced on the 10th that it is recruiting companies eligible for the 'Scale-up R&D Support Project for SMEs in Crisis Areas' following the National Assembly's approval of the government's third supplementary budget.

This project, promoted by the Ministry of SMEs and Startups, has a budget of about 3 billion KRW and mainly supports R&D for ▲new product development ▲product advancement ▲business diversification.

Any small or medium-sized enterprise with a headquarters or factory located in the region can apply regardless of industry. The application period is until August 10. The support type is an open call, and the support scale is up to 100 million KRW per project.

The full amount of the support fund is paid in advance after signing the agreement, but selected companies must match 1.1% of the total support amount in cash. For more detailed information about the support project, please refer to the Daegu city and Daegu TP websites.

Baeseonhak, head of the Corporate Support Group at Daegu TP, said, "We hope this urgently deployed support project to prepare for the post-COVID-19 era will help enhance the global competitiveness of local companies," and urged many local companies to show interest and participate.

Meanwhile, since 2018, the Ministry of SMEs and Startups has supported a total of 574 projects with a budget of 21.6 billion KRW to overcome industrial crises in crisis areas. This year, due to COVID-19, small and medium-sized enterprises located in Daegu and Gyeongbuk, which were declared special disaster areas, will be included as additional support targets, and the related budget will be executed accordingly.