Innovative technology of small and medium-sized enterprises will be included in the national pilot Smart City

The Ministry of Land, Infrastructure and Transport announced that it started a contest for innovative technologies by small and medium-sized enterprises from February 24 to apply them to smart city national pilot cities (Sejong, Busan).

The contest will be held to strengthen the smart city industrial ecosystem by selecting and supporting small and medium-sized companies with innovative technologies that can be introduced into national pilot smart cities.

The Smart City Innovation Technology Contest divides innovation services into five areas to discover and demonstrate excellent technologies suitable for the pilot city and will select up to 14 projects and support up to 300 million won and a total of 3.79 billion won in demonstration costs.

In order for small and medium-sized companies to coexist with large companies in the smart city industry ecosystem, large companies can only participate in consortiums (with less than a 30% stake).

In addition, the public offering period was set to 30 days so that SMEs could fully consider their participation, and the results of the selection will be announced around April and the project is planned to be completed by November this year.

Heo Na-yoon, head of the smart city team at the Ministry of Land, Infrastructure and Transport, said, "We hope that this public offering project will pave the way for the development of the smart city industry ecosystem by verifying innovative technologies of SMEs in national pilot cities."

Reported by Smart City Today