Korean Intellectual Property Office and Daejeon City Create 15 Billion Won "IP Regional Specialization Fund"

A regionally customized fund will be established to facilitate smoother financing for promising companies in the Daejeon area that possess outstanding patents.

The Korean Intellectual Property Office announced on October 31 that it will newly create a 15 billion won "Intellectual Property (IP) Regional Specialization Fund" in partnership with Daejeon Investment Finance.

Daejeon Investment Finance is the nation’s first public investment institution established with full funding from the Daejeon Metropolitan Government.

The fund is being established as a follow-up measure to the "Business Agreement for Building a Virtuous Cycle Ecosystem of Regional Intellectual Property," signed between the Korean Intellectual Property Office and Daejeon Metropolitan Government. The ultimate goal of the fund is to set a best-practice example by accelerating the growth of innovative companies rooted in the region and supporting the commercialization of technology.

The investment direction of the IP Regional Specialization Fund is set to generate synergy by combining the Korean Intellectual Property Office’s expertise in IP finance with Daejeon’s commitment to fostering local industries.

The main investment targets are companies that have undergone IP value assessment prior to investment and are engaged in patent technology commercialization, as well as companies located in Daejeon that operate in the city’s six strategic industries (ABCDQR). ABCDQR stands for Aerospace, Biohealth, Chip (Nano and Semiconductors), Defense, Quantum, and Robot/Drone.

Prior to the establishment of the IP Regional Specialization Fund, the Korean Intellectual Property Office and Daejeon Metropolitan Government will recruit fund managers from November 10 to 21. Interested management firms can check the ongoing investment project on the Korea Venture Investment website this month and submit their proposals online during the application period.

Kim Jeonggyun, Director General of Intellectual Property Policy at the Korean Intellectual Property Office, stated, "The IP Regional Specialization Fund will serve as a role model for the process in which the central government and local governments join forces to discover promising regional companies with outstanding patents and help them grow into innovative enterprises. The Korean Intellectual Property Office will continue to provide unwavering support so that advanced regional companies can secure commercialization funding based on IP and grow into globally competitive small giants."

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