Gyeonggi Institute Invests 8 Billion Won in Technology Development for Provincial SMEs

The Gyeonggi Institute of Economy and Science Promotion held the 'Gyeonggi-do Research and Development (R&D) Support Project Agreement Briefing Session' on July 22 at Gwanggyo Hall in the Gyeonggi Institute, located in Gwanggyo Techno Valley, Suwon, and is now officially launching support for technology development by small and medium-sized enterprises (SMEs).

This year, the institute will invest a total of 8 billion won to support technological innovation by SMEs in the province, allocating funding to 36 technology development projects (up to 140 million won per project) and 20 R&D First Step Support projects (up to 150 million won per project).

The technology development project supports short-term commercializable technologies of companies that have operated an in-house research institute for more than three years. The R&D First Step Support project is an R&D program designed to strengthen the technology development capabilities of early-stage companies that have established or relocated an in-house research institute within the past three years.

Gyeonggi Institute of Economy and Science Promotion held an agreement briefing session for this year's research and development support projects on the 22nd at Gyeonggi Institute in Gwanggyo, Suwon. Participants are listening to explanations about this year's support projects. Provided by Gyeonggi Institute of Economy and Science Promotion

At the briefing session, the institute provided guidance on the following topics: procedures for agreement signing and project management, instructions for preparing revised project plans, methods for calculating R&D expenses, and how to write and utilize research notes.

The institute plans to complete agreement signings by next month and begin disbursing R&D funds starting in September.

Kim Hyungon, President of the institute, stated, "Through this agreement briefing session, we have laid the foundation for companies to stably carry out their R&D projects," adding, "We will continue to enhance the technological competitiveness of SMEs in the province not only through technology development, but also by supporting the dissemination of results and commercialization."