Ministry to fast-track next 'Kolmar BNH' among lab spin-offs

The government plans to identify lab spin-off companies founded on public technology that show high growth potential and nurture them into the next Kolmar BNH. It will offer tailored support that spans technology development, investment attraction, verification and certification, and initial public offerings according to each company's growth stage.

The Ministry of Science and ICT said Wednesday it will designate "2026 outstanding lab spin-off companies by growth stage (Rising Star and Star)" among lab spin-off companies located in research and development special zones.

Lab spin-off companies are firms established within R&D special zones that invest at least 10 percent of their capital to directly commercialize technology owned by public research institutions such as government-funded research institutes and universities.

Since the system was introduced in 2006, a total of 1,434 lab spin-off companies have been designated nationwide as of August this year. They are operating across 19 metropolitan and specialized R&D special zones, including Kolmar BNH, the country's first designated lab spin-off company, along with other firms that have built competitiveness in global markets.

The ministry plans to strengthen its support system to help these companies grow into market-competitive deep tech firms, selecting "Rising Star lab spin-off companies" and "Star lab spin-off companies" by growth stage for intensive support.

Rising Star lab spin-off companies are firms with high growth potential that have expanded sales and hiring and attracted investment on the strength of superior technology and products. Companies eligible to apply include those with average sales of at least 1 billion won ($746,000) over the most recent three business years. Others qualify if their average annual sales have grown at least 15 percent. The ministry plans to select around 10 companies this year.

Star lab spin-off companies are firms that have already achieved results in sales and investment attraction and are expanding into domestic and overseas markets. Eligible companies are those with average sales of at least 5 billion won over the most recent three business years and average annual sales growth of at least 20 percent. The ministry plans to designate around two companies this year.

Rising Star companies will receive support for commercialization-linked research and business development, intellectual property strategy consulting, connections to follow-on private investment, and overseas investor relations events. They will also get priority support for special zone foundation projects, priority recommendations for special zone fund programs, and exemptions from Public Procurement Service technology evaluations.

The ministry will link Star companies to large-scale research and business development, verification and certification, regulatory sandboxes, and exit consulting covering IPOs and mergers and acquisitions. The support aims to help the companies scale up in earnest and expand into global markets.

The ministry will separately designate companies that have grown to IPO-ready scale as "honorary lab spin-off companies." It plans to select around 10 such companies this year and use them as anchor firms representing the R&D special zones, while also pursuing open innovation with promising lab spin-off companies.

Kim Seong-su, director general of the R&D Bureau at the Ministry of Science and ICT, said, "It is important not only to produce outstanding research results, but to grow companies that can compete in the market on that basis." "We will strengthen the growth ladder so that companies using public technology can receive the support they need in a timely manner as they grow," he said.