Korea Credit Guarantee Fund Launches Open Call for 15th "Innovation Icon" Cohort
On February 12, Korea Credit Guarantee Fund (KODIT) announced that it will hold an open call for applications for the 15th cohort of its "Innovation Icon" program from this day until March 10.
"Innovation Icon" is KODIT's flagship program designed to help startups that possess new technologies or innovative business models scale up and grow into global unicorn companies. Eligible applicants are companies that have been in business for at least 2 years and no more than 12 years, and they must meet at least one of the following criteria: (i) annual sales of at least 1 billion won with an average sales growth rate of 10% or more over the past two years, or (ii) having raised at least 3 billion won in investment from institutional investors.
Through this public call, KODIT plans to select around five companies as Innovation Icons. The selected companies will receive intensive financial and non-financial support, including: (i) credit guarantees of up to 20 billion won for three years, (ii) application of the minimum guarantee fee rate (0.5%), (iii) additional guarantee fee support through partner banks, and (iv) support for overseas expansion, various consulting services, and publicity.
From the 1st to the 14th cohorts, KODIT has provided a total credit guarantee limit of 964.7 billion won to 73 companies selected as Innovation Icons. Notable companies selected include AI semiconductor design companies FuriosaAI and Rebellions, as well as KOSDAQ-listed firms Nota, Linksolution, and Dotmill.
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A KODIT official said, "Companies selected as Innovation Icons are delivering results in areas such as attracting investment, pursuing initial public offerings (IPOs), and expanding into global markets, based on KODIT's scale-up program," adding, "We hope that the companies selected this time will grow into next-generation unicorns that will lead Korea's future industries."
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