Korea Institute of Design Promotion selects 60 small and mid-sized enterprises
Discovering design innovation growth models through company-tailored support
The Ministry of Trade, Industry and Energy (hereinafter MOTIE, Minister Moon Sung-wook) and the Korea Institute of Design Promotion (hereinafter KIDP, President Yoon Joo-hyun) have selected and announced 60 companies as "2021 Design Innovation Promising Companies" that will leverage design across their management to enhance global competitiveness. The Design Innovation Promising Company program identifies small and mid-sized enterprises with growth potential and supports them in using design as a means of management innovation. Since its launch in 2017, 30 to 60 companies have been selected as beneficiaries each year.
Over a three-year period, the selected companies receive tailored support needed for developing innovative products, including ▲consulting support through design management capability diagnosis (65 companies, 3 months), ▲new product development support (20 companies, 5 months), ▲global marketing support (30 companies, 5 months), and ▲promotional support.
During the company recruitment period conducted for one month starting in February 2021, twice as many companies applied compared to the previous year. Through a total of three rounds of evaluation (document screening, non-face-to-face presentation evaluation, and on-site verification and validation evaluation), companies that received excellent assessments in terms of corporate capability, growth potential, and objectives for utilizing the support program were finally selected.
In particular, this year's selections included companies with strong future growth potential that converge Fourth Industrial Revolution technologies with manufacturing and services, such as "Datechnique," which combines AR technology with smart helmets; "Youngdo Velvet," which developed eco-friendly textiles using waste fibers; and "Genoplan Korea," which provides personal genetic analysis services.
Meanwhile, the achievements of companies that previously participated in the Design Innovation Promising Company program have proven remarkable. An analysis of the average revenue trends over the past three years (as of 2019) for the 90 Design Innovation Promising Companies selected between 2017 and 2019 showed an annual average growth rate of 6.9%, indicating that their revenue performance continues to grow through strengthened design competitiveness.
Lee Sung-soo, head of KIDP's Industry Development Division, stated, "As the saying goes—based on the UK Design Council's finding that companies utilizing design technology generate 10 pounds of added value per hour—we hope the selected companies will grow into global champion enterprises by developing products with design support."
▲ Hansol IMB Co., Ltd., All-in-One System Blind
▲ Present Co., Ltd., Noiseless Infant Toilet Seat Cover
▲ Design Mind Plus, Upcycled Eco-Friendly Design Art Tile
▲ DSP Co., Ltd., Eco-Friendly Antibacterial Stainless Steel and Color Stainless Steel