Domestic government-funded research institutes are generating a lot of startups based on information and communication technology (ICT) and are achieving high commercialization results, including listing on KOSDAQ, which is becoming a hot topic.

The Electronics and Telecommunications Research Institute (ETRI) announced that the number of cases in which researchers directly commercialized technologies developed at the institute or created technology startups based on their own know-how has exceeded 141.

Based on this, three research institute companies, Suzentech Co., Ltd., Syntekabio Co., Ltd., and Genesystem Co., Ltd., were listed on the KOSDAQ market and earned a total of KRW 15.2 billion in investment profits, and are being evaluated as excellent examples of public sector startups.

Entrepreneurship refers to the creation of new businesses and markets based on innovative technologies and ideas.

Successful startups can create a lot of added economic value, so the country is also encouraging them.

On the other hand, it is not an easy field to challenge as success is uncertain and a lot of investment and consideration are required.

ETRI explained that it was able to achieve results by carrying out systematic support for technology startups.

There are two main points. />
The first is the 'Preliminary Startup Support System', which helps establish a corporation through practical preparations such as discovering startup ideas and developing business models.

This system, which has been in effect since 2011, discovers potential entrepreneurs, provides incubation activities and infrastructure, and has helped establish a total of 67 technology startup corporations.

Representative companies that have emerged through this include Gachysoft Co., Ltd., Lucent Block Co., Ltd., Hojeon Able Co., Ltd., and Exosystems Co., Ltd., and based on the number of active companies at the end of 2020, they have generated economic effects such as annual sales of KRW 25.6 billion and employment of 498 people.

Another is the 'research institute company system', where ETRI establishes a joint venture with a company based on its own technology or ETRI Holdings Co., Ltd. invests in it.

This system has been implemented since 2006 and has established 74 research institutes to date. Representative research institute companies include Suzentech Co., Ltd., Syntekabio Co., Ltd., and Genesystem Co., Ltd., which are listed on KOSDAQ.

Since 1990, ETRI has systematically encouraged entrepreneurship by establishing a system to support entrepreneurship.

In 1998, the Startup Support Center was established to provide incubation space and testing infrastructure for startups, and in 2010, the foundation for supporting technology startups as it is today was established by establishing Etri Holdings Co., Ltd., the first technology holding company among government-funded research institutes.

Recently, we are promoting 'planned startups' that promote large-scale, convergent, and creative businesses by incorporating technologies based on the 4th Industrial Revolution, 'integrated startup R&D projects' that consider the entire cycle from the R&D stage to market demand, business model establishment, and startup, and 'post-incorporation support' through technology commercialization platforms, E-care programs, and internal and external business linkages.

In this way, based on the continuous support, trial and error, and know-how accumulated over the past 30 years, ETRI plans to go beyond simply producing startups and lead the technology startup ecosystem, creating a virtuous cycle of discovery, nurturing, growth support, recovery, and reinvestment.

ETRI President Kim Myung-jun stated, "We plan to create a unicorn company with a corporate value of 1 trillion won within the next three years. We will also streamline related regulations, such as the startup leave system, to foster an environment conducive to active technology startups."

Altist CEO Dong-Hwan Son also said, “We were able to overcome this challenge by receiving support related to management and commercialization that would have been difficult to obtain through the capabilities of individual companies. “We hope that systematic support will continue throughout the entire startup lifecycle so that R&D results can continue to shine as innovations in the future,” he said.

Information on research institute startups can be found through the Technology Commercialization Platform (https://techbiz.etri.re.kr/), and for detailed information on support for technology startups, contact the Technology Startup Office of the ETRI Small and Medium Business Commercialization Headquarters (T. 042-860-4991).