The Public Procurement Service (PPS) said Wednesday it signed a memorandum of understanding with the Government Procurement Technology Promotion Association at the Daejeon Government Complex to help early-stage startups enter and grow in the public procurement market.
The two organizations agreed to cooperate in identifying products for Venture Nara registration, supporting product promotion and public sales channels, and helping Venture Nara products advance into innovative products and excellent procurement goods categories.
The PPS also designated the Government Procurement Technology Promotion Association, which has extensive experience in supporting procurement companies, as a recommending body for Venture Nara registered products. The agency will actively support early-stage startups in using Venture Nara as a stepping stone to advance into larger procurement markets.
Venture Nara, which began operations in 2016 and marks its 10th anniversary this year, has registered some 2,300 companies and about 17,000 products, generating annual order performance of 160 billion won.
"We will actively support early-stage startups with technological capabilities and innovation so they can continue to grow in the public procurement market," said Kang Sung-min, deputy commissioner of the Public Procurement Service.
