Hanjayeon, Ministry of SMEs and Startups Selected as Participating Institutions for 'Investment-Type R&D Dedicated Track' Operation

[Asia Economy Reporter Ki-min Lee] The Korea Automotive Technology Institute announced on the 27th that it has been finally selected as an operating institution for the Ministry of SMEs and Startups' '2021 Investment-type Research & Development (R&D) Dedicated Track (Scale-up TIPS)'.

Scale-up TIPS is an investment-type R&D program newly launched this year by the Ministry of SMEs and Startups to promote challenging and innovative technology development of promising small and medium-sized ventures in the hardware and manufacturing sectors at the scale-up stage.

For promising companies recommended by operating companies after investment commitment, the government supports up to 3 billion KRW in investment-type R&D funds or up to 1.2 billion KRW in investment-linked R&D funds.

To participate in the operation of this program, the Korea Automotive Technology Institute strategically joined the operating consortium with the lead company Innopolis Partners and participating institution Korea Science and Technology Holdings.

Taking this opportunity, the Korea Automotive Technology Institute plans to focus on supporting the technological advancement of promising companies needing scale-up by performing roles such as ▲ recommending excellent companies ▲ supporting R&D and testing/analysis ▲ providing technical information ▲ and supporting demonstration.

The operation period of Scale-up TIPS is 3+3 years, and each consortium is granted the right to recommend 5 to 10 promising companies annually.

Mi-hye Oh, Director of the Korea Automotive Technology Institute's Small Giant Special Zone Campus, said, "Through participation in the operation of Scale-up TIPS, the Korea Automotive Technology Institute expects to further enhance the support performance for technology-intensive promising small and medium ventures by linking investment and R&D for companies fostering core future car technologies."