Applications open until the 20th... Eight SMEs to be selected
Support of up to 76 million KRW per company
For product innovation, market development, and smart innovation
Seongnam City, Gyeonggi Province (Mayor Shin Sang-jin) announced on the 11th that it is recruiting companies to participate in the ‘Star Enterprise Development Project,’ which focuses on supporting promising small and medium-sized enterprises (SMEs) in the region.
The ‘Star Enterprise Development Project’ selects technology-innovative and export-driven SMEs with high growth potential and supports them to leap into strong small and medium enterprises or mid-sized companies. The project is entrusted to the Gyeonggi-do Economic Science Promotion Agency and is conducted through a provincial government matching fund system. This year, eight SMEs within Seongnam City will be selected.
The selected companies will carry out autonomous tasks tailored to their needs in three areas: product innovation, market development, and smart innovation for one year. They can receive support of up to 76 million KRW per company, covering up to 70% of the required costs. In particular, to reduce the financial burden on SMEs, the support funds will be paid in full in advance.
Applicants must have their main office or registered factory in Seongnam City as of the announcement date and operate a corporate-affiliated research institute or a dedicated research and development department. Additionally, their annual sales in 2023 must be between 5 billion KRW and less than 70 billion KRW.
Companies wishing to participate should check the application form and required documents on EasyBiz and apply online by March 20.
Last year, Seongnam City also supported eight companies through the ‘Star Enterprise Development Project,’ carrying out a total of 23 tasks including prototype development, design development, acquisition of intellectual property rights, promotion and market development, participation in domestic and international exhibitions, and digital transformation, contributing to strengthening corporate competitiveness and increasing sales.
A Seongnam City official said, “Through this project, we plan to actively support the innovative growth of SMEs and further accelerate the revitalization of the local economy.”
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