Ministry of Industry Supports Technology Commercialization and Investment Attraction for Manufacturing SMEs

Announcement of New Projects for the 'Scale-up Technology Commercialization Project'
Over 12.8 Billion KRW in Support This Year

On the 22nd, the Ministry of Trade, Industry and Energy announced new projects for the 'Scale-up Technology Commercialization Project.'

This project supports research and development (R&D) and technology commercialization in new industries for small and medium-sized enterprises (SMEs) in the manufacturing sector. SMEs and accelerators (specialized commercialization companies, technology transfer institutions, etc.) develop business models (BM) in the first phase (60 million KRW per project), and if investment from private venture capital is secured, R&D funding is provided for two years in the second phase (a total of 1 billion KRW per project) based on evaluation.

Since its inception in 2021, this project has helped a total of 143 companies attract 260.9 billion KRW in private investment, resulting in 95 patents (73 applications and 22 registrations) and 466 new jobs.

This year, a total budget of 12.885 billion KRW will be supported, with 2.085 billion KRW allocated to 35 new projects.

Je Gyeong-hee, Director of Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy, stated, "Since the ministry’s R&D aims for commercialization and business implementation, we will make every effort to support SMEs’ commercialization from business model development to technology development and investment attraction."