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According to Yonhap News,
Ulsan-si announced on August 2 that it selected 8 companies to receive support in business establishment based on new technologies.
This project is to connect promising new technologies owned by the industry, academia, and public sector with demand companies, supporting commercialization through technology transfer and R&D, fostering companies creating high added-value.
5 companies have been selected for commercialization and 3 for R&D support.
For commercialization support, the companies will receive support worth up to KRW 40 million in technology consultation, prototype manufacturing, and design development.
For R&D support, companies will receive support worth up to KRW 170 million in labor costs for researchers, research activities, and research project implementation expense.
Ulsan-si signed MOU with Ulsan National Institute of Science and Technology (UNIST) to revitalize cooperation between the industry and academia, and has been implementing a project to 'facilitate business establishment adopting new technologies' since 2016, organized by the Ulsan Economic Promotion Agency.
Of 30 companies participated in the project until last year, 8 companies led to business establishment applying new technologies, creating 77 new jobs. 12 companies attracted investment worth KRW 7.6 billion.
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Source:Yonhap News (August 2, 2021)
** This article was translated from Korean.