ICT Innovation Voucher: Who Qualifies and What You Get
Small businesses in South Korea can use these vouchers to fund external research and development for new digital products.
The ICT Innovation Voucher is a support program designed to help small and medium-sized businesses fund the research and development of new information and communications technology products.
Who it's for
This scheme is specifically for small and medium-sized enterprises (SMEs) that are currently developing new products within the ICT sector.
What you get
You receive vouchers that can be used to pay for external research and development (R&D) services. This allows your business to access specialized technical expertise to help bring your new digital products to life.
What it costs you
While the vouchers provide significant support, you are required to provide matching funds. This means you must contribute a portion of the total cost yourself, typically ranging between 20% and 30% of the project expenses.
The catch to know
You cannot spend these vouchers with any company you choose. The vouchers are only valid when used with service providers that are officially registered within the program.
How to apply
- Verify that your business meets the SME criteria for the ICT sector.
- Identify a registered service provider to handle your R&D needs.
- Prepare your funding plan to cover your required portion of the costs.
- Submit your application through the official agency channels.