Ministry of SMEs and Startups Selects 69 National Representative Innovative Companies for 'Digital and Green New Deal'

Following the selection of 13 innovative companies in July, 69 companies were chosen in the second round

The Ministry of SMEs and Startups announced on the 10th that it has selected 69 companies with technological achievements, innovation, and growth potential in the digital and green New Deal sectors as the 'Innovative Companies National Representatives 1000.' Table = 69 companies selected as Innovative Companies National Representatives. Provided by the Ministry of SMEs and Startups.

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 10th that it has selected 69 companies with technological achievements, innovation, and growth potential in the digital and green new deal sectors as part of the ‘Innovative Companies National Representative 1000’.

This second round of selecting Innovative Companies National Representatives involved collaboration among the Ministry of SMEs and Startups, the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of Health and Welfare, and the Ministry of Oceans and Fisheries, selecting a total of 247 companies across innovative growth industries including the New Deal sectors as Innovative Companies National Representative 1000. The Ministry of SMEs and Startups stated that it utilized existing programs such as Baby Unicorn, Preliminary Unicorn, and Materials, Parts, and Equipment (MPE) Small Giants to select innovative companies.

Among the selected companies, 35 companies including Senstone, OneDrop, and Highsense Bio were selected under the Ministry of SMEs and Startups’ Baby Unicorn 200 nurturing project, having secured more than 2 billion KRW in private investment. Sixteen companies such as LivesMed, Hillserion, and Agencom were selected as Preliminary Unicorns by the Ministry of SMEs and Startups, having secured more than 5 billion KRW in private investment. Another 16 companies including RPS, Daewoo Electronic Materials, and Poongwon Precision were selected under the Ministry’s MPE Small Giants 100 project, with more than 50% of their sales coming from materials, parts, and equipment, and having secured more than 50 million KRW in private investment, according to the Ministry of SMEs and Startups.

Additionally, in July, the Ministry of SMEs and Startups selected 13 companies with outstanding technological achievements and innovation in the MPE sector as Innovative Companies National Representatives. Among them, Company A, which was supported as an MPE Small Giant selected by the Ministry last December, was selected as an Innovative Company National Representative in July and received a 10 billion KRW loan from the Korea Development Bank to cover operating funds such as labor and material costs amid the resurgence of COVID-19.

Going forward, policy financial institutions including the Korea Development Bank, Industrial Bank of Korea, Export-Import Bank of Korea, and Korea Credit Guarantee Fund will collaborate to provide sufficient support such as loans, guarantees, and investments tailored to the funding needs of the selected Innovative Companies National Representatives.

Meanwhile, the ‘Innovative Companies 1000 Financial Support Task Force,’ composed of officials from policy financial institutions such as the Korea Development Bank, plans to regularly monitor the support status and difficulties faced by the selected companies.