The Artificial Intelligence Industry Convergence Project Group (Director Kim Joon-ha) announced on the twenty second that it had chosen six firms for the MVP production and commercialization support project for Gwangju Artificial Intelligence (AI) firms.

MVP (Minimum viable product) refers back to the minimum required product that will be improved and commercialized through customer feedback by implementing the minimum function.

This project evaluated firms with AI product development capabilities which have headquarters, branches, and research centers within the Gwangju region. The aim is to extend corporate sales and create jobs by producing minimum requisite products that will be released within the shortest time frame to advertise early commercialization of AI firms residing in Gwangju.

Through this project, which can run until December, a budget of 45 million won per company will probably be supported. The corporate pays about 9 million won, or 20% of the subsidy. The subsidies include personnel expenses for internal personnel participating within the project, general accommodation expenses, material expenses, and operating expenses akin to rent.

Along with this, seven additional programs will probably be supported: ▲training and consulting support ▲corporate move-in support ▲investment attraction support ▲domestic and foreign marketing support ▲network establishment support ▲data service support ▲empirical service support.

The project group pays 60% of the primary project cost concurrently with the kick-off meeting of the chosen firms on the twenty sixth. After that, on August twenty second, 40% of the 2nd project cost will probably be supported at the top of the month through the interim evaluation and progress monitoring.

Meanwhile, an official from the AI ​​Industry Convergence Project Group said, “After the project is over, we plan to conduct follow-up management of commercialization performance, employment, and sales for a few yr until December 2024.”

Reporter Hojeong Na hojeong9983@aitimes.com