Busan City Calls for Companies to Join 'Future Growth Engine Industries'... R&D Support for Commercialization Within One Year

Busan Headquarters Targets SMEs, Selecting 10 Local SMEs for Technology Transfer Commercialization, Pre-Planning, and Autonomous Corporate Technology Innovation Capacity
Up to 300 Million KRW for Medium Projects, Up to 60 Million KRW for Small Projects

2021 Busan City 'Future Growth Engine Industry Development Project' New Support Selection Procedure.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City is promoting the ‘2021 Future Growth Engine Industry Development Project’ to enhance the competitiveness of small and medium-sized enterprises (SMEs) in future growth engine industry sectors.

The Future Growth Engine Industry Development Project is a program that supports overall research and development activities for one year to commercialize technologies of local SMEs that have secured technological innovation capabilities.

The support areas include ▲technology transfer commercialization, ▲pre-planning, and ▲company autonomy. This year, the projects are divided into medium and small support tasks, selecting up to 10 companies in total.

▲Medium support tasks provide up to 300 million KRW per company in 15 technology fields such as electric and hydrogen vehicles and autonomous vehicles, while ▲small support tasks provide up to 60 million KRW per company in SME technology roadmap fields, government-wide innovative growth engine industry fields, and Busan City’s seven strategic industry sectors.

Eligible applicants are SMEs headquartered in Busan. The application period is from January 25 to 29. Companies wishing to participate must visit the Regional Industry Promotion Office at Busan Technopark or submit the required documents by mail by 6 p.m. on the 29th.

Among the applicants, support companies will be selected through document evaluation → presentation evaluation → on-site evaluation, and the final selected companies will carry out the project from the time of agreement until the end of October.

Byun Sung-wan, Acting Mayor of Busan, said, “Through this project, we will link the achievements of technology transfer and R&D planning among innovation entities in industry-academia-research collaboration,” adding, “We expect it to contribute to the technological innovation growth of the local industry by commercializing within one year through prototype production.”

For more details, please refer to the announcement on the Busan City website or the Busan Technopark website.

This content was produced with the assistance of AI translation services.