The Ministry of SMEs and Startups said on the 7th it will announce the implementation plan for the deep tech challenge project (DCP) "ecosystem innovation type," which will develop technologies that promote innovation across the ecosystem with participation from multiple SMEs and startups, including supplying and purchasing companies.
The notice period runs from the 8th to Apr. 7, and applications can be submitted online through the Integrated Inter-Ministerial Research Support System. A briefing session will also be held on the 3rd of next month at Yeoksam Tipstown and online.
The ecosystem innovation type is a program that supports up to 20 billion won in research and development (R&D) funding per project for four years to "project teams" composed of numerous SMEs and startups, investment institutions, universities and research institutes, and large and mid-sized companies.
While existing R&D projects supported technology development at the level of individual technologies, the ecosystem innovation type enables multiple companies to collaborate to develop multiple technologies that constitute an ecosystem at the same time. The plan is to secure leading technologies that solve technological barriers and innovate the industry as a whole.
The Ministry of SMEs and Startups (MSS) plans to select five projects capable of innovating the domestic industrial ecosystem and creating new global markets through phased validation, focusing on five strategic areas: ▲ artificial intelligence (AI) and digital ▲ advanced robots and manufacturing ▲ pharmaceuticals and bio ▲ advanced materials and components ▲ carbon and energy.
Through an approximately three-month open call, about eight technology development projects capable of innovating the domestic industrial ecosystem will be selected. Selected project teams will undergo up to six months of preparatory steps, including technology and market validation, attracting more than 3 billion won in private investment, and supplementing the project team.
Among the project teams that complete the preparatory steps, five projects with verified business performance, feasibility of technology development, and innovativeness will be selected and provided with up to 20 billion won in technology development funding over four years.
An expert (PM) vested with authority and responsibility for the project will participate from the task discovery stage to facilitate technology and market validation and the formation of the project team. This is to respond flexibly to changes in technology and the market. A specialized support system distinct from conventional R&D will also be introduced, such as the "moving target," which supports even goal changes and terminations during R&D execution.
Hwang Young-ho, director general for technology innovation policy, said, "Providing 20 billion won to a single project is the first attempt in SME and startup R&D history, and the goal is to go beyond supporting corporations to solve technological challenges across the ecosystem and reshape the industrial landscape," adding, "We will identify the best projects and pour our policy capabilities into creating a sure success model."