SuperBin, YPowerOne, and Other Climate Tech Companies Participate
Climate Tech Startup Level-Up Strategy Announced
The Ministry of SMEs and Startups announced on the 7th that it had held a 'Startup On-Site Dialogue' with climate tech startups and unveiled its 'Climate Tech Innovation Startup Level-Up Strategy.'
The on-site dialogue, held on this day at SuperBin in Hwaseong, Gyeonggi Province, brought together climate tech startups such as SuperBin (recyclable resource collection robots), YPowerOne (wireless charging), and BNG Partners (green finance support), as well as climate tech demand institutions and experts. The event was organized to examine both the supply and demand perspectives.
Ministry of SMEs and Startups Announces Climate Tech Level-Up Strategy
This event is a follow-up measure to the climate tech startup support announced at 'COMEUP 2024', and is also intended to further level up the support strategy for innovative climate tech companies in the future.
First, through the Climate Tech Innovation Startup Level-Up Strategy, the ministry plans to focus on fostering technologies tailored to small and medium-sized enterprises (SMEs) and accelerating the commercialization of market-leading sectors with high demand. The ministry will promote climate tech business development, focusing on two key areas: 'process innovation' and 'resource circulation' for export-oriented SMEs responding to carbon trade regulations. It will also provide funding for technology validation and promote the convergence of advanced technologies such as artificial intelligence (AI).
Next, to support capable climate tech entrepreneurs in taking on new challenges, the ministry will specialize its support programs and provide facility support for continued growth. It will designate and utilize specialized TIPS operators with expertise in climate tech, and climate tech startups participating in Deep Tech TIPS will receive preferential treatment when applying for the Super Gap 1000+ program.
In addition, to help innovative startups expand globally, the ministry will enhance the use of regional strategic resources and provide step-by-step support for securing funding, exports, and networks. Through public-private collaboration, it will offer information on major funds and grants such as the Bill & Melinda Gates Foundation and BEV, provide consulting support, and help startups offer solutions to climate issues using their technological capabilities.
The ministry also plans to establish dedicated regulatory free zones and related administrative service systems. Taking into account local industrial environments and capabilities, it will newly create regulatory free zones in five major climate tech sectors. Starting with the two key focus areas by 2027, the ministry plans to discover and nurture at least five climate tech companies per theme, helping them enter the 28 trillion won (as of 2023) competitive market for SMEs.
Minister Oh Youngju of the Ministry of SMEs and Startups said, "Our country has a manufacturing-centered economic model, which results in high carbon emissions, and our dependence on exports makes us highly sensitive to global carbon regulations. Going forward, we will work with the Ministry of Environment and the Ministry of Trade, Industry and Energy to build a startup ecosystem in the climate and environmental sectors, and strive to propose policies and solutions tailored to these needs."
Climate Tech Companies Gather in One Place
At the roundtable, several climate tech startup CEOs gathered to discuss the operational challenges they face. PiQuant CEO Pi Doyeon, who manufactures air and water quality analysis sensors based on spectroscopy, said, "Due to regulations, we have not been able to obtain technical certification, which means we cannot win any public sector contracts, and as a result, we have had no choice but to look overseas. If a path could be opened for us to sell domestically, it would be a great help to our company."
Marine Innovation CEO Cha Wanyoung, who manufactures bio-products using seaweed and other materials, said, "With the funding we receive from domestic financial institutions, we can only cover initial research and development. It is far from enough for mass production and export. In the United States, IP-backed loans, where intellectual property rights are used as collateral, are common. If such a system existed in Korea, it would be very helpful."
SuperBin CEO Kim Jungbin announced plans to install and operate more than 1,500 units of the AI-based robot 'Nephron', which sorts and collects discarded PET bottles and aluminum cans, across the country. He added, "We want to create a world where waste becomes money and recycling becomes play."
Minister Oh said, "We will actively listen to the difficulties faced by climate tech startups and, together with experts, seek mid- to long-term solutions to support the growth of innovative startups and help them secure competitiveness in the global market. The Ministry of SMEs and Startups will establish a system to support climate tech innovation startups, aiming for carbon neutrality led by climate startups as a way to overcome the climate crisis."
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