The Ministry of SMEs and Startups (MSS) said on the 10th that it held the "Deeptech Value-Up Partnership Day" to share the results of recommending and matching promising deep-tech startups to large corporations with demand and carrying out technology cooperation.
The event was prepared to spread open-innovation outcomes such as technology validation, supply contracts, and investment linkages, and to seek directions for collaboration next year.
The "Deeptech Value-Up Program" is an open-innovation program in which top-tier technology-based ventures and startups work with large corporations, promoted by the Ministry of SMEs and Startups (MSS). Starting with a pilot project with Hyundai Motor last year, a total of 11 large corporations participated this year and worked with 62 startups.
Starting in March this year, a total of 736 startups were recommended to 11 large corporations. After 133 meetings, 62 startups were finally selected as collaboration partners. The average competition rate was 12 to 1.
Collaboration results are also emerging. Deep-In-Sight, an artificial intelligence (AI)-based 3D sensing solution specialized company that took part in the pilot project with Hyundai Motor last year, won a CES (Consumer Electronics Show) Innovation Award, attracted large-scale investment, and signed supply contracts with large corporations.
At the Partnership Day event, a segment was also prepared for the key players who produced concrete collaboration outcomes between large corporations and startups. Working-level staff from all 11 large corporations participating in Deeptech Value-Up and officials from supporting institutions received the Minister's commendation in recognition of their contributions to vitalizing the startup ecosystem through open innovation.
Executives overseeing open innovation from 11 large corporations, including Hyundai Motor, LG Science Park, POSCO Holdings, and KT, also attended the event.
Entrepreneurship Policy Director Cho Kyung-won said, "The open-innovation stance in which the private sector leads innovation and the government backs it will continue," adding, "The government will spare no support for necessary institutional improvements, technology protection, and global expansion in the course of public-private collaboration."