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The Ministry of Science and ICT is launching a "collaboration support project" for ICT startups.

Google 우선 소스Published2021.01.05 15:25
Launch of a collaborative technology development project to optimize the future ICT market.
Supporting strategic collaboration between startups to create new markets.
Supporting the market verification system by investing in external expertise.



The Ministry of Science and ICT announced on the 5th that it will fully launch the 'ICT Future Market Optimization Collaborative Technology Development Project' to support the strengthening of market demand-tailored technological capabilities of ICT startups in the DNA (Data, Network, AI) field and their growth into high-growth companies.
Ministry of Science and ICT

Most domestic startups prefer independent technology development. Therefore, in the process of implementing new ideas, a lot of time is spent securing insufficient resources, making it difficult to promote business efficiently.

Furthermore, to secure a lead in a new market, proactive market demand forecasting and market testing are necessary. However, ICT startups are unable to accurately grasp market demand due to limited resources.

This project was introduced to secure the momentum for creating new markets through strategic collaboration between startups, thereby promoting technology acquisition, service expansion, and talent acquisition.

In particular, we plan to support step-by-step R&D through a preemptive market verification system utilizing external expertise so that market changes and demands can be reflected in startups' technology development in a timely manner, thereby increasing the success rate of commercialization and supporting technology development so that startups can preemptively occupy new markets.

The Ministry of Science and ICT will hold a business announcement for 31 days from Wednesday, January 6 to Friday, February 5, and then select the companies to be supported in June after evaluation.
▲ Scale of support for ICT collaboration technology development projects [Table = Ministry of Science and ICT]

The target of support is ICT startups that have formed or are planning strategic alliances, such as technology partnerships or M&As, to secure early access to new markets. A total of eight startups will be selected through an open competition.

The government will provide the selected companies with R&D funds of KRW 600 million per project (KRW 300 million in the first year of 2021) for two years (KRW 900 million in total), and after evaluating the possibility of entering new markets and collaborative R&D, select companies and provide an additional KRW 600 million in technology development funds for one year.

This business announcement can be found on the website of the Ministry of Science and ICT or the National IT Industry Promotion Agency .
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