Kibo Partners with Korea University of Technology and Education to Foster Startup Ecosystem
Mutual Cooperation to Support Innovative Growth of Local Startup Companies
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 16th that it has signed a business partnership agreement with the Industry-Academic Cooperation Foundation of Korea Polytechnic University (Director Ahn Dong-hee, hereinafter referred to as SanGidae) to create a regional startup and technology commercialization ecosystem.
This agreement was established to build a comprehensive support system that activates challenging startups of regional companies possessing excellent technology and ideas and promotes technology commercialization.
According to the agreement, SanGidae will recommend outstanding startup companies within the university to Kibo, and Kibo will support innovation growth through financial support such as guarantees and investments for the recommended companies, as well as non-financial support including technology transfer, consulting, and initial public offering (IPO) assistance. In addition, both institutions will establish a cooperative system in various fields such as technology evaluation and technical advice based on their professional capabilities.
The strategic business linkage between Kibo, which supports successful startups through customized programs, and SanGidae, which promotes talent development in new growth sectors, is expected to serve as an opportunity for startups originating from the region to secure technological competitiveness and grow into companies leading the new era.
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Park Ju-seon, head of Kibo's Incheon Regional Headquarters, said, "Universities possess human and material innovation capabilities, and there is a need for campuses to transform into innovative startup spaces as optimal sites for future new industries," adding, "We will continue to actively strive to strengthen the sustainable growth capabilities necessary for startups that began in the region to grow."
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