Kibo, SK Hynix to Nurture Startups Discovered into Unicorns

High-Skilled Talent Innovation Startup Program 'Tech Valley Guarantee' Expanded to Large Corporations

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter Kibo) announced on the 17th that it has signed a business agreement with SK Hynix (CEO Lee Seok-hee) to "promote innovative startups by outstanding talents from large corporations."

This agreement was established to drive successful startups by supporting Kibo's high-tech talent innovation startup programs, 'Tech Valley Guarantee' and 'Meister Guarantee,' for promising startups or spin-off companies founded by technical talents from SK Hynix.

According to the agreement, when SK Hynix recommends spin-off companies discovered through its in-house venture program 'Hi Garage' and excellent technology companies with SK Hynix technical experience to Kibo, Kibo will provide preferential guarantees of up to 3 billion KRW for funds needed for startup, R&D development, and commercialization, and will also support non-financial aspects such as selection as venture and Inno-Biz companies, professional consulting, and technology transfer.

SK Hynix has been operating the in-house venture program 'Hi Garage' since January last year. Among the six teams selected in the first batch of Hi Garage, four venture companies were produced, and among the six teams selected in the second batch this year, three teams have succeeded in starting businesses, while the remaining teams are preparing to start their businesses.

Kibo Director Kim Young-chun said, "We hope this agreement will serve as an opportunity to foster technology innovation companies leading the post-COVID era and create an innovative startup environment for outstanding technical talents from large corporations," adding, "Kibo will continue to actively strive to help innovative startups discovered through large corporations' in-house venture programs and companies founded based on large corporations' technical experience boldly challenge new businesses and achieve successful startups."

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