SEOUL-style R&D Becomes a Stepping Stone for Corporate Growth, Connecting Up to Commercialization

Seoul's representative R&D support policy, 'SEOUL-style R&D,' has evolved from a simple technology development grant program into an open innovation platform linking corporate growth, investment, proof of concept, and commercialization. By connecting hospitals, universities, investment institutions, and large corporations into an ecosystem, it now supports technology development through commercialization and global expansion. According to Seoul City, companies receiving R&D support from 2020-2024 generated 538.9 billion won in revenue, attracted 467.3 billion won in investments, and created 6,035 jobs. Since 2022, 23 supported firms have listed on the KOSDAQ. Over 20 years, Seoul-style R&D has supported over 4,500 technology development projects, with this year's 425 billion won funding backing 195 projects to strengthen emerging industries like AI and biotechnology. The 263 participating companies and institutions in the Seoul-style R&D consortium recorded 496.9 billion won in combined revenue in 2023, 590 million USD in exports, and 1.1987 trillion won in cumulative investments. Seoul City expanded its 'SEOUL Tech Summit' from a sector-specific strategy forum to a broader open innovation platform connecting enterprises, universities, hospitals, and investment institutions. The 2026 Seoul Tech Summit Forum marked the initiative's shift to an open innovation platform for AI, biotechnology, and other future industries, emphasizing ecosystem building over isolated R&D grants.