Kibo, Introduction of Task Unit Evaluation Method... Government R&D Commercialization Fund Support
Additional Support for R&D Commercialization Funds Regardless of Existing Guarantee Amounts
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 14th that it will implement the 'Innovative R&D Commercialization Support Special Program' to improve the success rate of government research and development (R&D) commercialization projects.
The special program is a product that supports commercialization funds for completed R&D projects expected to produce commercialization results for up to five years. It changes the support method for commercialization financing from a company-unit basis to a project-unit basis in government R&D selection, providing additional R&D commercialization funds regardless of the existing guarantee amount.
To this end, Kibo newly developed a 'Project-unit R&D Commercialization Dedicated Model' to be used for technology evaluation. This model was developed to minimize the evaluation items for commercialization entities and to focus on assessing the likelihood of successful commercialization of R&D projects. Additionally, new criteria for measuring and judging the stages of R&D commercialization have been established to support the enhancement of the qualitative level of commercialization outcomes.
Through this special program, Kibo plans to promote the commercialization of government R&D by small and medium-sized enterprises (SMEs) by applying preferential support such as ▲additional commercialization funds beyond the existing guarantee amount ▲increased guarantee ratio (85%→95%) ▲fixed guarantee fee rate (1%). Kibo plans to support a total of 24 projects that have completed government R&D development through a pilot project this year.
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Lee Eun-il, Standing Director of Kibo, stated, "By preparing a program specialized in supporting R&D commercialization, we expect to contribute to improving the efficiency of national R&D investment by increasing the commercialization success rate of government R&D by SMEs, which currently remains at 40-50%."
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