Government Selects 509 Innovative SMEs and Mid-Sized Companies for Intensive Support

First Batch of "Innovation Premier 1000" Selects 509 SMEs and Mid-Sized Companies
Government to Provide Intensive Support for Innovative SMEs and Mid-Sized Companies

The Financial Services Commission announced on May 14 that, together with 13 government ministries including the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of SMEs and Startups, and the Ministry of Environment, a total of 509 small and medium-sized enterprises (SMEs and mid-sized companies) have been selected as the first batch of the "Innovation Premier 1000" for 2025.

The Innovation Premier 1000 is a program designed to provide intensive support to outstanding companies in each industry through collaboration between the financial and industrial sectors. It was introduced at the end of last year to integrate similar existing support programs (the National Representative 1000 for Innovative Companies and the Preferential Process for Excellent Companies) and to offer more effective support to outstanding companies.

Under the Innovation Premier 1000, each ministry selects innovative and high-growth SMEs and mid-sized companies according to criteria established based on their policy directions. Policy financial institutions then provide tailored financial and non-financial support to each selected company. Each ministry issues an "Innovation Premier Certificate" to its selected companies and offers special benefits through its own support programs.

As a result of the selection process that began in February, the Financial Services Commission and 12 other ministries selected a total of 542 SMEs and mid-sized companies for the first round of the "Innovation Premier." Taking into account 30 companies that were selected by more than one ministry, a final total of 509 companies have been designated as "Innovation Premier" companies and will be eligible for benefits until the end of next year.

Of the 509 companies, 505 are engaged in innovative growth industries. By sector, the innovative growth industries include manufacturing and mobility (such as electric vehicles, advanced defense, and robotics), artificial intelligence (including AI analysis and big data), and environment and smart agri-fisheries (such as eco-friendly fuels and alternative foods), among others. By company size, 488 are SMEs and 21 are mid-sized companies.

More than 96% (492 companies) of the 509 selected companies fall under the "five key priority funding areas." These five key areas were identified by the Policy Finance Support Council as sectors requiring focused policy finance support, taking into account each ministry's industrial policy.

Companies selected as "Innovation Premier" can submit applications for financial and non-financial support to the Policy Finance Integrated Support Team both online and offline. The support team will review the submitted applications and existing transaction records, assign the appropriate policy financial institution (and branch), and provide tailored, close-knit support.

Policy financial institutions will establish exclusive products for "Innovation Premier" companies and provide the highest level of preferential treatment available among their products (such as interest rates, loan limits, and guarantee ratios).