Selection of 50 Companies by July 25
The Ministry of SMEs and Startups announced on June 22 that it will publicly recruit participating companies for the "Top 50 Outstanding SME R&D Achievements" until July 25.
The "Top 50 Outstanding SME R&D Achievements" is a project designed to discover and widely promote small and medium-sized enterprises that have achieved exceptional results through R&D, thereby encouraging the continuous creation of achievements by other companies. Last year, 336 companies applied for this project, representing a 97.6% increase compared to the previous year's 170 applicants. The competition rate was 6.7 to 1.
Eligible applicants are companies that have either successfully completed (with a normal or excellent rating) or are currently conducting SME R&D projects under the Ministry of SMEs and Startups within the past five years. The selection categories are as follows: 30 companies with outstanding technological capabilities that have demonstrated significant economic or technological growth, such as increased project sales and high sales growth rates; 10 companies possessing world-class technological capabilities in strategic technologies such as semiconductors and displays, as well as in the energy and environment sectors; 5 companies that have turned crises into opportunities through exceptional technology; and 5 companies that have solved public or social issues through innovation.
All selected companies will be given opportunities to receive benefits in various support areas, including finance and R&D. To promote continued achievement, they will be eligible for a 2 percentage point reduction in interest rates on commercialization funds from dedicated banks (IBK and Hana), and receive preferential access to investment capability enhancement programs from the Korea Technology and Information Promotion Agency for SMEs.
In addition, companies will receive support for global expansion, such as participation in renowned overseas exhibitions and conferences, assistance in joining the IBK Corporate Bank job portal (i-ONE JOB), and preferential treatment when participating in follow-up R&D projects. Furthermore, to enhance their sense of pride as outstanding achievers, the Ministry of SMEs and Startups will present ministerial commendations and provide plaques to the selected Top 50 companies.
Companies wishing to participate can apply through the SME Technology Development Project Integrated Management System website.
Park Yongsoon, Director General for Technology Innovation Policy at the Ministry of SMEs and Startups, stated, "Achievements and innovation through SME R&D are key factors that determine the future of small and medium-sized enterprises. The Ministry will spare no policy support to help create a technological ecosystem where outstanding technological capabilities are successfully commercialized."
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