Gyeonggi Province to Invest 4.555 Billion Won in Technology Development Projects

[Suwon Ilbo=Park No-hun] Gyeonggi Province will invest 4.555 billion won this year to provide technology development funding to companies, universities, and research institutions located in the province.

Gyeonggi Province has prepared the '2021 Gyeonggi Province Technology Development Project Implementation Plan' with this content and announced on the 25th that it will recruit approximately 37 projects in total.

The Gyeonggi Province Technology Development Project is a flagship research and development (R&D;) project of the province that has provided funding of 151.1 billion won to 940 projects over 13 years from 2008 to last year, achieving economic results 5.9 times the investment through sales of 634.9 billion won and cost savings of 17.2 billion won.

The recruitment will proceed in three fields: startup, general, and specialized sectors, and plans to provide technology development funding of up to 50 million won for startups and up to 150 million won for general and specialized sectors.

Companies wishing to receive support can apply from the 19th of next month to the 30th at 6 p.m. by accessing the Gyeonggi Province R&D; Management System (pms.gbsa.or.kr). There is no submission by mail or in-person visit.

The project briefing session will post a link on the Gyeonggi Province R&D; Management System on the 1st of next month to prevent COVID-19 spread, and will provide detailed information including the overall project implementation plan and improvement measures, differentiation from central government R&D; projects, key promotion directions and detailed support content, instructions for preparing project proposals, required documents and application methods.

Choi Seo-yong, Director of Science and Technology at Gyeonggi Province, stated, "Technology development is a new opportunity for the future of enterprises," and added, "We will make efforts to enable companies that have excellent technology but lacked funds to boldly take on technology development challenges through Gyeonggi Province's financial support."

For detailed information about the project, please refer to the announcements and public notices on the Gyeonggi Province website (www.gg.go.kr) or announcements on the Easy Business Portal (www.egbiz.or.kr) and the Gyeonggi Province R&D; Management System (pms.gbsa.or.kr).