Ministry of SMEs and Startups Unveils First Project of 'Daestar Solver Platform'

7 Projects in 3 Fields Including ICT·SW, Biohealth, and Materials·Manufacturing
About 3 Startups Selected per Project... Support Including 100 Million KRW Commercialization Funds

[Asia Economy Reporter Lee Junhyung] The Ministry of SMEs and Startups announced on the 7th that it will unveil seven tasks for the first phase of the "Daestar Solver Platform." The application period for the tasks is until the 30th of this month.

The Daestar Solver Platform is a contest where startups solve challenges that large corporations have been unable to resolve. It is part of a government policy acting as a bridge to connect large corporations and startups. Large corporations can leverage external creative ideas and technologies to create opportunities for new markets and businesses, while startups can establish a foundation for growth through collaboration with domestic and international companies.

The seven tasks in the first phase of the Daestar Solver Platform are organized into three major fields: Information and Communication Technology (ICT) & Software (SW), Biohealth, and Materials & Manufacturing.

By field, three tasks were identified in ICT & SW. The Korea Broadcast Advertising Corporation proposed tasks related to anti-ad fraud technology and verification systems for advertising effectiveness to secure trust in the advertising market. Incheon International Airport Corporation presented a task to advance the prohibited items screening system to alleviate customer inconvenience such as increased security check waiting times.

In the Biohealth field, two tasks were identified, including chronic disease management. Sanofi proposed a Korean-style chronic disease management solution aimed at managing chronic diseases in elderly patients to prevent progression to more severe complications.

In the Materials & Manufacturing field, two tasks were also identified. Shinsegae Food proposed the development of eco-friendly packaging materials dedicated to the rapidly growing meal kit market as a task. Startups are expected to analyze the product lines of demand companies and provide solutions such as material development, packaging, and coating technologies based on product ingredients.

The contest will proceed through three evaluation stages. In the first stage, which evaluates ideas, the Ministry of SMEs and Startups will assess direction, innovativeness, and creativity for solving the tasks and select about 30 startups by the end of next month. In the second stage, a face-to-face evaluation focusing on problem-solving methods will review task suitability and technical feasibility, selecting about 20 startups by August.

The approximately 20 startups selected after the second stage will be given up to two months to refine their solutions. The Ministry plans to select about three startups per task capable of collaborating with demand companies through a pitching evaluation scheduled for October.

The Ministry of SMEs and Startups will support the final selected startups with up to 100 million KRW in commercialization funds and up to 2 billion KRW in technology special guarantees. Additionally, they will be given preferential treatment in strategic projects under the Startup Growth Technology Development Program, which supports up to 400 million KRW over two years, or in the Didimdol Project, which supports up to 150 million KRW over one year.