The Ministry of Science and ICT has officially launched a consortium to support deep tech startups aimed at expanding the market reach of public research outcomes.
On May 20, the ministry held a ceremony at the Peace and Park Convention Center in Seoul to inaugurate the "Deep Tech Commercialization Support Consortium (NEST)."
NEST is a collaborative network of key support organizations that connects outstanding public research outcomes from universities and research institutes with startups, incubation, and investment opportunities. The consortium includes 13 institutions, comprising three newly selected comprehensive specialized companies and ten company builders.
The consortium's primary role is to facilitate joint startup initiatives, investment projects, and technology discovery among member organizations. By pooling their investment capabilities, personnel, and networks, the 13 institutions aim to establish a collaborative commercialization model and enhance the overall capacity of the public technology commercialization ecosystem.
For NEST to achieve tangible results, effective coordination of interests among institutions and the practicality of investment connections will be crucial. Past government-led startup support consortia have often struggled to move beyond mere networking.
Attendees at the launch included Koo Hyuk-chae, the First Vice Minister of Science and ICT, representatives from the 13 participating organizations, and Kim Byeong-guk, the Director of the Korea Technology Commercialization Promotion Agency. The event featured the presentation of plaques to selected institutions, followed by a networking session to discuss collaboration strategies.
Koo emphasized the importance of connecting good technology with the market to foster startups, investment, and growth, expressing hope that NEST would become a new successful model for deep tech commercialization.
* This article has been translated by AI.
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