Patent Office Supports Carbon Neutrality Idea Trading and Commercialization

The Korean Intellectual Property Office (KIPO) is stepping up to support the trading and commercialization of carbon neutrality ideas.

On the 7th, KIPO announced that it is recruiting small and startup companies to participate in the ‘Carbon Neutrality Idea Trading and Commercialization Support Project.’

This project is implemented as part of the national carbon neutrality initiative ‘Net Zero ChallengeX,’ which aims to discover and support the growth of climate technology startups. The core of the project is to identify startups with innovative technologies in greenhouse gas reduction and climate crisis adaptation fields and provide them with special benefits to help them grow into unicorn companies.

Provided by the Korean Intellectual Property Office

In line with this, the support project is conducted as an open innovation product development initiative that discovers public ideas related to companies’ climate technology challenges through KIPO’s ‘Idea-ro’ platform, then supports product development strategies by utilizing these ideas and patent information.

The support project is divided into two categories: the ‘Public Participation Product Innovation Type,’ which supports small and startup companies in developing carbon neutrality products based on ideas proposed by the public, and the ‘Private Demand-Based Type,’ where large and medium-sized enterprises’ carbon neutrality challenges are solved collaboratively by the public and small and startup companies.

The Public Participation Product Innovation Type involves discovering and purchasing public ideas for climate technology products that small and startup companies aim to develop through Idea-ro, then supporting product commercialization solutions, prototype production and verification, and intellectual property strategy establishment.

The Private Demand-Based Type involves large and medium-sized enterprises presenting carbon neutrality challenges, and small and startup companies proposing solutions by utilizing intellectual property experts, public ideas, and patented technologies, linking from joint product development to delivery.

Notably, starting this year, KIPO will participate as a direct selection agency for ‘Net Zero ChallengeX,’ selecting startups holding innovative patents in the greenhouse gas reduction field and supporting intellectual property commercialization strategies.

Startups participating in the support project can receive necessary support for business growth through additional incubation or common indirect support.

Small and startup companies can apply to participate in the support project via ‘Idea-ro’ from the 7th of this month until the 6th of next month. Detailed project announcements can be found on the KIPO website and the Idea-ro website.

Kim Jeong-gyun, Director of the Industrial Property Policy Bureau at KIPO, said, “KIPO will continue to support so that innovative patents and ideas in the climate technology field can serve as stepping stones for actual companies to innovate their products.”