The Ministry of SMEs and Startups said on the 19th it is recruiting corporations to join the pilot "regional manufacturing innovation voucher" program to boost manufacturing startups based in local communities.
The program totals 4.2 billion won and is a collaborative model in which startups and small manufacturers form consortia to co-develop and produce prototypes. Startups and small manufacturers carry out every step together, from planning and product design to prototype production.
Eligible applicants are consortia made up of startups with manufacturing ideas and small manufacturers with prototype production capabilities. The two corporations must be located in the same or neighboring provinces outside the greater Seoul area.
Selected consortia receive up to 1 billion won in government support in the form of vouchers. They can choose and use services needed to carry out collaborative tasks, such as mockups and mold production.
The Center for Creative Economy and Innovation will participate as the project management body, providing mentoring to each consortium and checking collaboration progress and difficulties. In particular, it will flexibly manage changes to project goals and detailed plans so that required design revisions and on-site manufacturing feedback during prototype development can be quickly reflected.
Consortia with strong collaboration outcomes will also receive follow-up support linked to private platforms such as Kakao Makers and Wadiz. The plan is to support them so that they can move beyond prototype production to market development.
Corporations wishing to participate can apply online on the innovation voucher platform from the 20th to Apr. 3. Details of the announcement can be found on the Ministry of SMEs and Startups (MSS) website. The integrated call center for small and medium-sized enterprises and the Korea SMEs and Startups Agency (KOSME) information call center also provide details about the program.
Kwon Sun-jae, regional corporations policy director at the Ministry of SMEs and Startups (MSS), said, "This pilot program is a collaboration model in which startups and small manufacturers in the regions jointly build new products and market potential based on each other's strengths," adding, "We will actively support so that the region's creative ideas are consolidated with on-site manufacturing capabilities to produce real commercialization outcomes."