Global Business Innovation Programme in South Korea - Battery Technologies

A GBIP has three stages:

Prepare for the market

Preparing for the market includes the cohort being briefed by sector and market experts on, for example, cultural aspects of conducting business in that country. Delegates receive help to find business partners and arrange meetings and are advised on best practice including the management and protection of their intellectual property.

Visiting the market

Visiting the market provides opportunities to attend pre-arranged meetings and activities in order to better understand and maximise the opportunities that the visit presents.

Exploiting the opportunity

Exploiting the opportunity is arguably the most important aspect of the programme. To maximise the opportunity, participating companies are given bespoke one-to-one support from an Innovate UK EDGE innovation and growth specialist to help develop and implement an action plan.

The Global Business Innovation Programme operates on a competitive basis and businesses selected are required to participate in all three stages (some or all of which may be online).

To apply, you must:

• Be a UK-based innovation-led company with ambitions to grow and internationalise
• Be a company with fewer than 500 employees
• Be able to attend and complete all activities (4th-8th March 2024)

South Korea is home to three of the world’s five biggest electric vehicle battery makers who collectively control more than a quarter of the global EV battery market and supply major automakers including Tesla Inc, Ford Motor Co. and Volkswagen AG. Earlier this year President Yoon Suk Yeol, as part of the country’s long-term strategy to enhance competitiveness of the domestic battery industry, announced a collaboration with LG Energy Solution Ltd, Samsung SDI Co Ltd and SK on Co, pledging to jointly invest $15.1 billion through to 2030, building factories to produce cutting-edge battery products and manufacture prototype solid-state batteries. According to the Ministry of Trade, Industry and Energy the government plans to launch large-scale research and development projects for developing allsolid-state batteries and lithium metal batteries and ramp up support for companies producing materials, components, and equipment for batteries to ensure the country maintains competitiveness and achieve its goal of making Korea the first country to commercialize all-solidstate batteries. With a reputation for high R&D investment and international collaboration South Korea offers significant opportunities for ambitious UK companies developing battery technologies.

Innovate UK will fund and organise flights, accommodation, in-market travel, and conference fees for successful applicants. Innovate UK will also pay for any reasonable adjustments throughout the initiative. One representative from each company will be funded.

On acceptance to the Programme a commitment fee of £500 will be obtained from each delegate, which will be refunded on completion of the full activities and agreed action plan. Non-completion after formal acceptance may result in forfeiting some or all the commitment fee.

Successful applicants will benefit from an intensive 9 to 12 months three phased programme and bespoke support from an Innovation and Growth Specialist throughout.

Getting ready for the market: Preparation workshops to build knowledge and understanding of the market and opportunities, consideration of cultural differences and how to do business in South Korea, protecting Intellectual Property and training on articulating your value proposition and how to pitch.

Visiting the market: Exclusive access to the South Korean market and the opportunity to meet with key contacts, research organisations and companies. Meet potential collaborators and partners through pre-arranged meetings and matchmaking events.

Exploiting the opportunity: A follow-up workshop and bespoke support from an Innovate UK EDGE Innovation and Growth Specialist to exploit contacts and knowledge gained during the visit and develop cross border innovation projects

Click here to register for the Briefing Event on 16 October 2023.

Closing date for application: 3rd November 2023

Pre visit workshop: 13th – 14th December 2023

Innovation visit: 1st – 9th March 2024

4 March 2024: Embassy briefing & visit to Seoul National University Battery Research Center
5 March: Visit to KIER & LG Energy Solution
6 March: Visit to Postech Secondary Battery Research Center & ECOPRO
7 and 8 March: Interbattery Exhibition

Participants will need to comply with South Korean travel requirements.

For more information, assistance with your application or to discuss accessibility needs, please contact: elizabeth.stanway@innovateukedge.ukri.org or call 07467 762 823.