The ‘AI·Digital Transformation Innovation Company Overseas Verification Support Project’ consortium./Courtesy of the Ministry of Science and ICT

The Ministry of Science and ICT announced on the 17th that it has selected eight consortia to participate in this year's 'AI and Digital Transformation Innovation Companies Overseas Verification Support Project.'

The 'AI and Digital Transformation Innovation Companies Overseas Verification Support Project' is aimed at supporting domestic startups wishing to expand overseas by securing verification cases, discovering and connecting local demand sources, and covering verification costs in line with the expansion of the global AI transformation (AX) market.

The Global Digital Innovation Network (GDIN), a support organization for the overseas expansion of domestic information and communication startups, has conducted preliminary recruitment and discovery of local verification demand sources for about three weeks starting from March 21.

A total of 57 companies applied for the open call conducted from April 21 to May 12 for the selection of domestic companies, showcasing a competition rate of 7 to 1.

The selection evaluation included overseas demand source officials and external experts.

The selected domestic companies participated in an orientation on June 13. Following the signing of the agreement this week, they are expected to commence the implementation of verification projects.