Seoul Business Agency Supports ICT Convergence Technology Commercialization for Companies Located in G-Valley

Priority for Consortium Formation Among Institutions in G-Valley, 70% Expansion of Labor Cost Support to Attract Top Talent for Technology Development in Industrial Complex, Revitalizing G-Valley R&D (Technology Development)

The Seoul Business Agency (SBA, CEO Jang Young-seung), which enhances the technological competitiveness of companies by supporting technology development and commercialization of outstanding small and medium enterprises in Seoul, is promoting the 2021 ‘G-Valley ICT Convergence Technology Commercialization Support Project’ to create an innovative ecosystem in the G-Valley industrial complex by providing a total of 1.6 billion KRW for ICT convergence R&D and commercialization among industries (companies) coexisting in various sectors such as IT·SW and manufacturing in G-Valley.

Project applications are accepted until 6 PM on Thursday, April 8, and submissions are conducted online through the SBA Seoul R&D Support Center’s integrated management system.

The supported projects under this program involve convergence technology development applying ICT technology between different industries (companies), specifically creating new products (services) and commercializing them.

Projects at the commercialization stage of technology development level 6 (TRL6) or higher, capable of generating sales and overseas exports, will be supported. There is no restriction on technology fields as long as the project involves convergence with other industries; however, medical and bio sectors are excluded from support as separate technology commercialization support projects are currently open for application.

TwoTech Co., Ltd. challenged the G-Valley ICT Convergence Technology Commercialization Support Project and achieved excellent results. Through this support project, they developed the world’s first barcode and laser label printer that requires no consumables such as ribbons during printing and produces non-erasable prints.

The developed product can output at a resolution more than three times higher than comparable laser label printers. It has secured demand not only from major domestic corporations but also from the public sector, established dealerships in Japan, and obtained international patents in Europe and the United States, actively expanding into overseas markets.

This support project allows participation through a consortium formed by a lead organization (a corporate SME located in G-Valley) and cooperating organizations (corporate SMEs or universities, research institutes). The lead organization must be a corporate SME located in G-Valley, specifically registered in Guro-gu or Geumcheon-gu according to the business registration certificate, but cooperating organizations have no regional restrictions. This year, preferential points will be given to consortia where all members are located in G-Valley or to projects related to overcoming the COVID-19 crisis or affected companies, aiming to contribute to the formation of an innovative ecosystem within G-Valley.

If finally selected as a support target, up to 200 million KRW in R&D funds for technology development and commercialization can be provided for one year.

Seoul city support funds are paid differentially based on evaluation results and can be used for personnel expenses, prototype/sample production, performance and reliability testing, certification, and other costs according to the ‘Seoul City Industry-Academia-Research Cooperation Project Operation Regulations.’ This year, to attract excellent talent within the industrial complex and enable competitive technology development, personnel expenses will be supported up to 70% of the cash project budget, and linked support such as investment, distribution, and marketing will continue even after the project ends.

More detailed information can be found in the 2021 Seoul-type R&D Support Project announcement for the ‘G-Valley ICT Convergence Technology Commercialization Support Project.’

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