Deep Tech Value-Up Joint Meetup Day Held by the Ministry of SMEs and Startups
Collaboration Companies Selected with Domestic Large Corporations, Up to 200 Million KRW in Funding Support
The Ministry of SMEs and Startups supports collaboration between domestic large corporations and venture startups.
On the 12th, the Ministry held the 'Deep Tech Value-Up Joint Meetup Day' at the JW Marriott Hotel in Seocho-gu, Seoul, with over 130 participants including major large corporations, startups, and related support organizations.
Oh Young-joo, Minister of SMEs and Startups, is celebrating with participants at the 'Deep Tech Value-up Program Joint Meetup Day' held on the 12th at JW Marriott Hotel in Seocho-gu, Seoul. Photo by Ministry of SMEs and Startups
The Deep Tech Value-Up program is an initiative where top-tier ventures and startups nurtured by the Ministry collaborate with global large corporations to promote open innovation.
Last year, Hyundai Motor Company conducted a pilot project with startups and selected six final collaboration companies (DeepInsight, Inchems, Rowein, Tesoro, Plaipe, and Plotic) through the Hyundai Motor Zero One Day.
This year, the Deep Tech Value-Up program sees the participation of various large corporations including Hyundai Motor Company, which participated in the pilot, Samsung Electronics, SK Hynix, LG Science Park, POSCO Holdings, HD Hyundai Heavy Industries, and KT. Based on the demand survey conducted by each large corporation in January, 26 startups recommended by regional Creative Economy Innovation Centers participated in this joint meetup.
Through the Deep Tech Value-Up program, around 50 startups will be supported this year, and the demand-side large corporations will select collaboration target companies through evaluations of startups discovered at this joint meetup. Startups confirmed for collaboration with large corporations can receive up to 200 million KRW in collaboration funds for technology optimization and global expansion.
At the event, alongside the joint meetup, a technology protection business agreement was signed between the nationwide Innovation Centers and the Foundation for Cooperation between Large, Small, and Medium Enterprises and Agriculture, Forestry, and Fisheries. The two organizations agreed to provide legal advice and support for various related contracts, including NDAs (Non-Disclosure Agreements) signed between large corporations and startups, to minimize concerns about technology leakage from startups.
Minister Oh Young-joo stated, "Recently, in the deep tech super-gap field, global countries are fiercely competing by expanding related infrastructure and boldly increasing investments. For domestic large corporations to overcome intense competition, it is crucial to find new growth engines through open innovation with startups backed by technological capabilities. If the private sector leads, the government will actively support as a reliable pillar."
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