Kibo and KISTI Join Hands to Support Open Technology Innovation

Supporting Technological Innovation in SMEs by Enhancing Utilization of National R&D Outcomes

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter Kibo) announced that it signed a "Business Agreement for Supporting Open Innovation of Technology for Small and Medium Enterprises" with the Korea Institute of Science and Technology Information (President Kim Jae-soo, hereinafter KISTI) on the 2nd.

This agreement was established to timely transfer excellent national R&D achievements to small and medium enterprises in need for commercialization by linking the national research and development (R&D) information and corporate information held by both organizations and building a mutually organic cooperation system, while simultaneously providing financial support to increase business success rates.

Through this agreement, the two organizations agreed to ▲ share KISTI's national R&D information and Kibo's technology transfer, commercialization, and technology finance support information ▲ prepare data utilization plans to strengthen SMEs' R&D capabilities ▲ prepare data utilization plans for the use and dissemination of national R&D achievements ▲ discuss practical cooperation measures such as holding academic conferences for mutual cooperation.

Kibo received authorization to utilize national R&D information collected from the National Science and Technology Knowledge Information Service from the Ministry of Science and ICT on March 30 this year. Based on this, it plans to actively support open innovation by utilizing the data created to guarantee commercialization of national R&D projects conducted by SMEs and to identify SMEs' technology demands.

Kim Jong-ho, Chairman of Kibo, said, "This agreement is meaningful in that it created synergy for technological innovation of SMEs by interlinking specialized information held by both organizations," adding, "Kibo will actively support various technology finance services to help SMEs utilizing national R&D achievements enhance their technological capabilities and competitiveness."

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