Selection of 30 Collaboration Demand Projects from 131 Proposals by Large Corporations
The Ministry of SMEs and Startups announced on the 19th that they will be recruiting startups to participate in the ‘Public-Private Partnership Open Innovation’ from the 20th of this month until the 19th of next month.
Since the end of last year, an open innovation demand project reception and evaluation process was conducted. As a result, 30 projects from various companies and organizations, including Kakao Mobility, LIG Nex1, and Korea Water Resources Corporation, were selected as candidates. Through this public offering, around 30 startups will be finally selected to carry out the projects together.
Selected startups will receive support funds of up to 140 million won, consulting, and specialized education needed for collaboration. They will also be provided with demonstration infrastructure, data, and skilled personnel necessary for the project execution. Outstanding collaborative startups will be eligible for additional R&D support and commercialization funds for developed technologies.
Startups wishing to participate can apply through the ‘Public-Private Partnership Open Innovation Strategic Task Solution’ startup recruitment announcement on the K-Startup website.
Additionally, the Ministry of SMEs and Startups selected 30 other open innovation support programs under the ‘Private Selection and Recommendation’ model. Large corporations like Hyundai Motor Company (Zero One) and Samsung Electronics (C-Lab Outside) participated. Startups selected through these companies’ own open innovation programs will receive linked support from the Ministry when recommended by the program operating companies.
Furthermore, through an open innovation intermediary platform, a ‘Mutual Autonomous Exploration’ initiative is set to begin, where support will be provided if a collaboration partner is found through matchmaking, starting from a February corporate meetup, with recruitment announcements expected after March.
Joo Kyung-won, the Startup Policy Director at the Ministry, emphasized that open innovation allows large companies to enhance competitiveness by incorporating external innovative technologies early, while startups can supplement their data and infrastructure and explore new markets. He stressed that the Ministry will serve as a platform for ‘cooperation for all,’ fostering innovation together with large, medium-sized, small enterprises, and public institutions centered around startups.