According to Yonhap News,
The Ministry of SMEs and Startups announced on January 16 that it will open applications for the "SME Technology Development Support Program" on the following day (January 17) to enhance the technological competitiveness of small and medium-sized enterprises (SMEs) through strategic research and development (R&D) support.
The SME Technology Innovation Development Program supports business growth by providing R&D support at each stage of innovation capabilities and facilitating rapid commercialization. This year, 779 new projects will be selected, which will receive support with a budget of KRW 117.9 billion.
This year, the proportion of support for strategic technology areas will be increased to over 50%. A total of 124 strategic items will be selected in 13 key R&D areas, including artificial intelligence (AI), bio, and carbon neutrality.
The "Scale-up TIPS" program, which supports the technological development of promising companies that have been verified and invested in by private investment firms (VCs), will also be expanded.
A new global track will be introduced under Scale-up TIPS, providing up to KRW 1.5 billion in R&D funding for companies aiming to engage in overseas cooperation, attract overseas investment, and expand into international markets over a period of three years.
The "Global Collaboration R&D" program will be newly established to allow SMEs to engage in international joint research, which has traditionally been led by large corporations and research institutions.
This year, the program will begin cooperation with leading institutions in North America, such as the Massachusetts Institute of Technology (MIT) and Purdue University, with plans to expand cooperation with more countries and research institutions in the future.
aeran@yna.co.kr
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Source: Yonhap News (January 16, 2025)
** This article was translated from Korean.