The Daejeon Creative Economy Innovation Center (CEO Daehee Park, hereinafter referred to as the “Daejeon Innovation Center”) announced that it signed a “Business Agreement to Support Innovation Growth of Daejeon Startup Park Supported Companies” with the Korea Technology Finance Corporation (Chairman Jongho Kim, hereinafter referred to as the “KIBO”) at the Daejeon Startup Park headquarters on the 10th of this month.
This agreement aims to establish an organic cooperative system between the Daejeon Innovation Center and Kibo, laying the foundation for innovative growth for promising startups at Daejeon Startup Park, Korea's version of Silicon Valley in the science city of Daejeon. Through this, the center will strengthen global competitiveness and foster leading companies that advance into overseas markets.
Daejeon Startup Park was established in 2020 with support from the Ministry of SMEs and Startups and the Daejeon Metropolitan City. It is built and operated by the Daejeon Innovation Center, a local startup organization. Opened in March of this year, Startup Park is located adjacent to Daedeok Innopolis, KAIST, and Chungnam National University, boasting an ideal location for technology startups, powered by world-class research and a talented workforce. The park features a headquarters building, as well as various auxiliary spaces, including D-Bridge, S-Bridge, H-Bridge, and W-Bridge. Each space is jointly operated by the Daejeon Metropolitan City and private companies such as Shinhan Financial Group, Hana Bank, and K-water, making it a prime example of a public-private partnership startup model.
Under the agreement, the Daejeon Innovation Center will recommend to Kibo excellent companies that are residents or participating in the Daejeon Startup Park and require technology guarantee support. Kibo will provide preferential guarantees, Youth Techstar Guarantees, IP Evaluation Guarantees, R&D Guarantees, Guarantee-Linked Investments, Kibo Venture Camps, technology transfer and protection, and management consulting to companies that meet the requirements.
Additionally, the two organizations will strengthen information sharing and network building in conjunction with Startup Korea Investment Week (SIW), Global Expansion Program, and AX Industrial Ecosystem Activation Program hosted by the Daejeon Innovation Center, and will explore joint projects such as specialized training, technology transfer, and management support for excellent technology companies.
Jeong Dae-young, head of the Chungcheong Regional Headquarters of Kibo, explained, “This business agreement has laid the foundation for collaboration to promote the innovative growth of promising venture startups in the Daejeon area and revitalize the startup ecosystem.” He added, “Going forward, Kibo will expand the scope of mutual exchange and cooperation to provide customized support to enhance the competitiveness of excellent technology and youth startups and revitalize the local economy.”
Daehee Park, CEO of the Daejeon Innovation Center, said, “This agreement is an important opportunity to provide comprehensive growth support combining finance and technology support to companies in the Daejeon Startup Park,” and added, “We will continue to work closely with Kibo to actively support excellent local startups so that they can grow on the global stage.”
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