The InnoBiz Association announced on November 1 that it is recruiting companies to participate in its '2027 High-Growth Innovative Companies' initiative.
This support program aims to foster InnoBiz companies operating in key advanced technology sectors, specifically the 'three megatrends' (semiconductors, physical AI, and AI data centers) and the 'seven seed industries' (SMR, nuclear fusion, renewable energy, quantum technology, aerospace, advanced biotechnology, and advanced supply chains). A total of 50 companies will be selected, with applications due by 5 PM on November 11.
Selected companies will receive tailored growth solutions designed to help them advance to the next stage of development, beyond simple financial support.
In the first year of the program, a detailed assessment and expert consulting will be provided to establish a long-term growth roadmap for each company. Notably, around 30 of the selected companies will be recommended for the 'Jump-Up 500' program, a flagship support initiative by the Small and Medium Business Administration, allowing them to bypass written evaluations.
From the second year onward, comprehensive follow-up support packages will be provided based on annual performance evaluations, linking essential policy infrastructure for corporate growth, including research and development (R&D), policy financing, global export and market development, talent acquisition, and initial public offerings (IPOs).
InnoBiz refers to small and medium-sized enterprises with technological competitiveness and growth potential. To qualify, companies must score over 650 points in an online self-assessment, over 700 points in a field evaluation, and achieve a B grade or higher in a technology assessment.
Jeong Kwang-cheon, president of the InnoBiz Association, stated, “In the competitive landscape of future advanced industries, it is crucial for technology-driven small and medium enterprises to boldly scale up and become innovative leaders with global competitiveness, which is essential for the sustainable growth of the national economy.”
* This article has been translated by AI.
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