Up to 3.2 Billion KRW Support Over 7 Years for Business-Linked Technology Development

Support for Linking Two Projects, Long-term Technology Development Support by Company... Announcement on the 18th

[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups announced that it will recruit small and medium-sized enterprises (SMEs) wishing to participate in the 'Business-Linked Technology Development Support Project' from the 18th of this month until July 19th.

The 'Business-Linked Technology Development Support Project' is a newly introduced program this year designed to enable SMEs to conduct continuous and stable technology development based on mid- to long-term technology development strategies.

Until now, SME technology development support projects have contributed to business growth and technology foundation establishment, but most were short-term within two years, leaving room for improvement in supporting the creation of future growth engines aligned with mid- to long-term technology development strategies.

Accordingly, SMEs can now receive continuous support by linking two projects, allowing them to carry out technology development according to step-by-step development strategies based on their mid- to long-term product and service roadmaps.

The Business-Linked Technology Development Support will accept applications from the 18th until July 19th, and after a selection evaluation, up to 15 projects will be supported. To reduce the burden of preparing business plans for applying companies, a concept plan written within five pages will be evaluated in the first round, and in the second round, creative and challenging excellent projects will be selected through in-depth evaluation.

Won Young-jun, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, expressed expectations that "through the Business-Linked Technology Development Support, SMEs will be able to accumulate innovative capabilities and sustain growth based on mid- to long-term strategies, moving away from a short-term perspective."

SMEs wishing to apply can inquire through the Ministry of SMEs and Startups, the Korea Technology and Information Promotion Agency for SMEs, or the SME Integrated Call Center. More detailed information can be found from the 18th via the Ministry’s Technology Development Project Integrated Management System.