Sejong, July 27, 2023 - The Ministry of SMEs and Startups (Minister LEE Young, hereinafter referred to as "MSS") is inviting startup companies to apply for the "Global Business Collaboration Program" in quantum computing from July 20 to August 10.
The "Global Business Collaboration Program" is a public-private program with collaboration between the government and internationally competitive companies to support the growth of startup companies and provide opportunities for market entry into foreign markets.
Following the previous recruitment for eight collaboration programs1, including Google and Dassault Systèmes, in March, this is the second recruitment for the "Global Business Collaboration Program." It is a new program in partnership with IBT, a leading global company in the quantum computing industry, to nurture startups related to quantum computing.
Chosen startup companies will be granted commercialization funding of up to KRW 300 million from MSS. Additionally, IBM will offer a growth support package that includes education, consulting, market development, networking, and other helpful forms of support.
IBM plans to install the "127-qubit IBM Quantum System One" at Yonsei University in 2024. The chosen startups will benefit from quantum computing education, seminars, and mentoring systems provided by IBM and the Yonsei University Quantum Information Technology Institute.
Minister LEE Young said, "MSS will assist South Korean startups in preparing for the future age of quantum technology by enhancing the abilities of promising quantum computing startups."
To take part in the "Global Business Collaboration Program," startups can submit their applications through the K-Startup Support Portal (www.k-startup.go.kr) between July 20 and August 10 until 18:00 KST. Before applying, those interested can review the related announcement on the portal.
1 Google, Dassault Systèmes, NVIDIA, Microsoft, Ansys, Siemens, AWS, Oracle
Contact: Rachel Minjo CHUN, Spokesperson for Foreign Media
044-204-7104 / rachelmchun@korea.kr