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Jeju Prov. to help local SMEs ensure IPR

According to Newsis,

Jeju Special Self-Governing Province announced a KRW 2.3 billion worth of investment on Feb 24 in helping locally based SMEs further improve competitiveness in intellectual property (IP).

By offering business consulting and product sampling, the provincial authorities have provided a biz-support program by each growth stage last year, letting businesses grow early stage creative ideas to be patented into something commercially valuable. For the would be entrepreneurs, the province opened an education and coaching sessions to learn more on how to start business with patented ideas and the process to be accredited, along with 3D modeling classes.

The next stage is for startups which has begun operation less than seven years. Targeting a dozen businesses, the provincial government laid a solid foundation for business expansion, with 12 patent applications. With the assistance of the authorities, SMEs which joined the program has been in the patent acquisition courses like branding or designing.

The final stage is for the promising businesses with full potential to grow into global giants.

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Source: Newsis (Feb 24, 2021)

** This article was translated from Korean.