Kibo, Support for Activating High-Tech Startups at Participating Research Institutions

Agreement Signed Between Aerospace Research Institute and Basic Science Support Institute

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 24th that it has signed a business agreement with the Korea Aerospace Research Institute (Director Lim Cheol-ho) and the Korea Basic Science Institute (Director Shin Hyung-sik) to establish the 'Research Institution Technology Commercialization Support Platform (R-TECH Valley)' to promote startups by technical talents such as researchers.

With this agreement, the number of R-TECH Valley partner research institutions has increased to a total of 19, and it is expected that advanced and high-level technologies in the domestic aerospace and basic science support fields will not be wasted but will directly lead to startups.

According to the agreement, research institutions will recommend outstanding startup companies within their organizations to Kibo, and Kibo will provide comprehensive support including financial support such as guarantees and investments, as well as non-financial support such as consulting, technology transfer, and initial public offering (IPO) support to help successful startups by excellent professionals.

'TECH Valley Guarantee' is a specialized support program introduced to support the commercialization of excellent technologies developed by universities and research institutions. It provides guarantees and preliminary investment limits of up to 3 billion KRW to companies founded by science and engineering professors and researchers of partner institutions, supporting them step by step. Since introducing the TECH Valley Guarantee in 2017, Kibo has supported a total guarantee amount of 596.9 billion KRW as of June this year, contributing to the promotion of startups by technical talents and the activation of venture innovation companies.

Chairman Jung Yoon-mo of Kibo stated, "To lead the next new normal era after COVID-19, it is essential to enhance original technological capabilities and the efforts of research institutions for the localization of core technologies," adding, "Kibo will strive to activate startups in research institutions to enhance national competitiveness and lead new economic growth."

This content was produced with the assistance of AI translation services.