Kibo Signs 'U-TECH Valley Business Agreement' with Korea Energy Engineering University
Activation of Startup for Excellent Technical Talent in the Energy Sector in Gwangju and Jeonnam Regions
The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 20th that it has signed a business agreement with Korea Energy Engineering University to support the activation of startups by outstanding technical talents such as professors and researchers through the establishment of a 'University Technology Commercialization Support Platform (U-TECH Valley)'.
Kibo's 'TECH Valley Guarantee' product is a specialized support program introduced to support the commercialization of excellent technologies developed by universities and research institutes. It provides a pre-limit of up to 5 billion KRW to companies founded by science and engineering professors and researchers from partner institutions, supporting funding at each stage of commercialization of outstanding technologies.
Through this agreement, both institutions agreed to establish an organic cooperation system to actively collaborate on the establishment and operation of U-TECH Valley and the provision of necessary information. The university will recommend outstanding startup companies to Kibo, and Kibo will provide not only financial support such as guarantees and investments to the recommended companies but also non-financial support including consulting, technology transfer, and initial public offerings (IPO) to help successful startups by outstanding technical personnel within the university.
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Lee Eun-il, a director at Kibo, said, "To establish a comprehensive package policy from startup to the actual commercialization maturity stage, it is essential to create a startup and innovation ecosystem," adding, "Kibo will actively support the successful growth of excellent technology startup companies at universities that possess many outstanding technical talents."
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