The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced that it signed a “Business Agreement for Activating the Technology Transaction/M&A Market and Fostering SMEs and Startups” with the Gyeonggi Center for Creative Economy and Innovation (CEO Kim Won-kyung, hereinafter referred to as “Gyeonggi Innovation Center”) at the Pangyo Enterprise Support Hub on Monday the 15th.
This agreement was promoted to revitalize the technology transaction and M&A markets and lay the foundation for the growth of small and medium-sized enterprises and startups in Gyeonggi Province, in line with the new government's goal of becoming one of the "Top 4 Global Venture Powerhouses."
The Gyeonggi Innovation Center is a dedicated local startup organization in Gyeonggi Province that serves as a public accelerator to foster small and medium-sized enterprises (SMEs) and startups through collaboration between the government, local governments, and the private sector. As of 2023, Gyeonggi Province is home to approximately 2.21 million SMEs, the largest number in the country. This agreement is expected to contribute to enhancing the effectiveness of SME and startup support.
According to the agreement, the Gyeonggi Innovation Center will discover companies in need of technology transfer and excellent SMEs and startups and recommend them to Kibo, and Kibo will link the recommended companies with comprehensive financial support such as ▲ excellent technology matching, brokerage, and financial support ▲ demand-based technology matching support (2Win-Bridge) ▲ promotion of win-win cooperation with large and medium-sized companies and support for technology protection ▲ M&A brokerage and acquisition funding support ▲ joint and follow-up investment, etc., as well as customized scale-up programs.
Through this agreement, the two organizations plan to jointly establish a support system for all stages of growth, including technology commercialization, M&A, and investment, for small and medium-sized enterprises and startups in Gyeonggi Province, thereby promoting the growth of the local startup ecosystem.
Kibo CEO Lee Sang-chang said, “Through this agreement, a foundation has been established for technology-based SMEs and startups to secure technological competitiveness and continue to grow step by step,” and added, “Kibo will continue to expand cooperation with related organizations to take the lead in fostering a technology transaction and M&A ecosystem and revitalizing the local startup ecosystem.”
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