Kibo Partners with German Steinbeis Foundation for SME Global Technology Transactions

Support for Global Technology Transactions and Commercialization of Outstanding Small and Medium Enterprises

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter Kibo) announced on the 20th that it has signed a tripartite Memorandum of Understanding (MOU) with the Steinbeis Foundation in Germany and Steinbeis Korea Center EdiResearch to support the global technology commercialization of excellent small and medium-sized enterprises (SMEs).

Steinbeis is a global technology commercialization specialized institution headquartered in Germany with over 40 years of experience. It carries out more than 8,000 projects annually and operates about 1,000 Steinbeis centers and the Berlin Steinbeis University. EdiResearch is a technology transfer and commercialization specialized company designated by the Ministry of Trade, Industry and Energy and is an operator of the Ministry of SMEs and Startups’ TIPS program.

This agreement was prepared to strengthen the innovation capabilities of SMEs and support domestic companies to grow into global strong SMEs, in collaboration with Steinbeis, a German technology transfer and commercialization specialized institution.

According to the agreement, when Kibo discovers SMEs eligible for support, Steinbeis will resolve the difficulties of SMEs by matching overseas experts as needed through interviews with the selected companies. In addition, Kibo, Steinbeis, and EdiResearch will actively work together to ensure smooth project execution by utilizing each institution’s unique capabilities, technology commercialization know-how, and networks. Specifically, various programs such as online and offline international technology exchange meetings and webinars will be supported for excellent technology SMEs to pioneer overseas markets.

Kibo plans to concretize the global technology commercialization program next year by operating pilot projects such as innovation strategy seminars and international joint research and development (R&D), and will establish and promote mid- to long-term plans thereafter. Chairman Kim Jong-ho of Kibo said, "This agreement is significant as it has established a foothold for global technology transfer and commercialization of domestic SMEs," adding, "Kibo will continue to revitalize the technology transfer market and expand overseas technology cooperation models to lead the establishment of an ecosystem where technology SMEs can grow globally from startups to scale-ups."

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