TIPA Supports Technology Innovation SMEs Entering Indonesia

Participation of 10 Domestic SMEs
Technical Exchange Consultations with 48 Local Buyers

The Korea Technology and Information Promotion Agency for SMEs (President Lee Jae-hong, hereinafter TIPA) announced that it held a Korea-Indonesia technology exchange consultation meeting supporting technology exchange between domestic small and venture companies and local companies in Indonesia on the 12th.

Held as part of the Ministry of SMEs and Startups' convergence technology exchange promotion project, this consultation meeting was organized to promote technology trade activation such as overseas technology transfer, joint investment, and local licensing based on the technologies possessed by domestic small and venture companies. This is the second event since the first consultation meeting was held last year.

TIPA Korea-Indonesia Technology Exchange Consultation Meeting Venue

This year marks the 50th anniversary of diplomatic relations between Korea and Indonesia, and considering the key local industrial sectors and corporate demands, support was focused on domestic small and venture companies engaged in the bio-medical (smart farm, medical devices, etc.) and machinery-materials (control systems, waterproof materials, etc.) industries.

At this consultation meeting, 10 domestic small and venture companies held consultations with 48 local buyers, and as it was held to commemorate the 50th anniversary of diplomatic relations between the two countries, the matching rate increased by about 41 percentage points compared to the previous year due to the high interest of companies from both countries.

Additionally, detailed discussions for future technology exchange and collaboration were actively conducted on-site, and 11 business agreements were signed for the purpose of local transfer, production, and distribution of possessed technologies and products.

Jung Myung-geun, Head of TIPA's Technology Cooperation Office, said, "We supported the establishment of a technology exchange network for domestic small and venture companies in Indonesia, which has the largest economy in ASEAN," and added, "We hope that through the network established between domestic small and venture companies and local Indonesian companies participating in this event, continuous cooperation will lead to many achievements."

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