Kibo to Grow Campus Startups into Unicorn Companies

Tech Valley Guarantee Expansion Reorganized to Support Successful Startups by Professors and Researchers

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 19th that it has significantly revamped the Tech Valley guarantee system by expanding the target companies and preferential guarantee terms to promote startups by professors and researchers.

According to this revision, 'planned startup companies,' where universities lead the establishment by recruiting professional CEOs and attracting investments, and professors who hold technology participate as Chief Technology Officers (CTOs), will be operated as Tech Valley guarantee target companies. Planned startup companies are expected to create a business environment that reduces the burden of corporate management on professors and researchers and allows them to focus on technology development and commercialization, thereby promoting startup activation and increasing the likelihood of success for professors and researchers.

Previously, professors and researchers had to hold the position of CEO or majority shareholder to receive guarantee support, but from now on, they can receive Tech Valley guarantees by participating as CTOs. In addition, to expand preferential support, Kibo plans to actively support the growth of Tech Valley companies by applying measures such as increasing the guarantee ratio (from 90% to 95%) and relaxing the guarantee limit assessment method.

The Tech Valley guarantee is a customized guarantee support program introduced in January 2017 to commercialize excellent technologies developed by professors and researchers. It is a comprehensive support platform that helps successful startups of outstanding technical personnel throughout the entire cycle from startup education, guarantees, investment, technology transfer, certification, to exit. So far, Kibo has signed business agreements with a total of 92 universities and research institutions through expanding partner institutions and continuous system improvements, discovering 352 Tech Valley companies and supporting guarantees worth 645 billion KRW.

Kim Young-chun, a director at Kibo, said, "Until now, university professors had to manage the entire company operation, including investment attraction, research and development, and taxation, while simultaneously conducting lectures and research after starting a business. However, from now on, planned startup companies can also receive Tech Valley guarantees, allowing professors and researchers to focus on research and development and commercialization." He added, "Kibo will continue to actively reflect changes in the startup environment and strive to activate startups within universities and research institutions that will lead the new era."

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