FOR IMMEDIATE RELEASE                     
Oct. 29, 2024                                    

Ministry of SMEs and Startups Honors 50 Innovative Enterprises for Outstanding R&D Achievements

SEJONG – On October 28, the Ministry of SMEs and Startups (MSS) honored 50 enterprises for their exceptional R&D achievements. These companies successfully completed R&D projects assigned by MSS, demonstrating remarkable outcomes. With 336 companies applying, the selection process was highly competitive, featuring a ratio of 6.7:1

Kim Woo-soon, Director General for Technology Innovation Policy, stated, "The Ministry of SMEs and Startups will continue to identify companies with exceptional R&D achievements. MSS is committed to supporting these enterprises in commercialization and promotion, ensuring their growth even in challenging business environments."

MSS will host an event to showcase the R&D achievements of 50 selected SMEs. The event will feature various programs, including ministerial commendations, product displays, and opportunities for collaboration with public institutions. Additionally, incentives such as investment programs from designated banks, low-interest loans, support for participation in global exhibitions, and extra points for follow-up R&D will be provided. MSS will also strategically promote successful R&D cases to other SMEs, ultimately fostering qualitative growth in R&D and encouraging more SMEs to undertake R&D projects


50 Innovative Enterprises for Outstanding R&D Achievements
Starting in 2023, the Ministry of SMEs and Startups has annually selected 50 innovative enterprises to enhance public understanding and interest in SME R&D while encouraging innovation among growing SMEs. Eligible applicants are SMEs that have successfully completed or are currently undertaking R&D projects assigned by MSS over the past five years, from 2019 to 2024. The selection process involves verifying outstanding outcomes and expert evaluations.