Kibo and Busan Economic Promotion Agency Join Hands to Promote Technological Innovation in Local Startups

Signed a Business Agreement with Busan Economic Promotion Agency

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 3rd that it signed a "Business Agreement to Promote Technological Innovation for Startup Companies" with the Busan Economic Promotion Agency (Acting Director Lee Joon-seung, hereinafter referred to as the Promotion Agency) to support technology transfer and commercialization for startup companies in the Busan area.

This agreement was established to create an organic cooperation system between Kibo and the Promotion Agency to support startup companies in transferring and commercializing excellent technologies owned by universities and research institutes.

According to the agreement, when the Promotion Agency discovers startup companies with outstanding technological capabilities and recommends them to Kibo, Kibo will conduct technology brokerage activities to enable the recommended startups to receive technology transfers from universities and research institutes. If commercialization of the transferred technology is necessary, Kibo will support technology evaluation and technology financing.

Additionally, both organizations plan to create synergy through mutual exchanges such as cooperating to discover outstanding entrepreneurs in the Busan area and operating joint support programs, and to establish an organic cooperation system to foster a technology innovation-based startup ecosystem.

Lee Eun-il, Head of Kibo's Busan Regional Headquarters, said, "This agreement is expected to be a good opportunity to expand the transfer and commercialization of public technologies, which Kibo is focusing on, through collaboration with the Promotion Agency." He added, "We will continue to support open innovation in technology and the activation of technology startups for small and medium-sized ventures to contribute to job creation and regional economic development in the Busan area."

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