Ministry of Science and ICT Selects Fund Manager for Public Technology Commercialization Fund Worth 80 Billion KRW

[Asia Economy Reporter Kim Bong-su] The Ministry of Science and ICT announced on the 27th that it has selected fund managers for the newly established 'Public Technology Commercialization Fund' starting this year.

This fund is a policy fund primarily investing in companies that have acquired technology transferred from public research institutions such as universities and government-funded research institutes, startups, and companies commercializing government research and development (R&D) projects. It will be established with a total scale of 80 billion KRW through annual investment partnership formations until 2024.

The Ministry of Science and ICT contributed 10 billion KRW to the fund, and Korea Venture Investment Corp., a professional investment management institution, jointly selected Korea Science and Technology Holdings Company and Future Science and Technology Holdings Company as fund managers. Korea Science and Technology Holdings Company represents 17 government-funded research institutes, while Future Science and Technology Holdings Company focuses on investing commercialization funds in companies that have transferred or started up technologies developed by the four major science and technology institutes, demonstrating expertise in public technology commercialization.

These fund managers will raise 10 billion KRW each to establish and operate a total 20 billion KRW scale 'Public Technology Commercialization Fund.'

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