The Korea Technology Finance Corporation (KTFC) (Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced on Wednesday the 25th that it signed a “Business Agreement for Activating Investment in Technology-Centered Startups” with Pohang University of Science and Technology Technology Holdings Co., Ltd. (CEO Koh Byeong-cheol, hereinafter referred to as “POSTECH Holdings”) .
This agreement was created to combine Kibo’s technology finance capabilities with Potech Holdings’ expertise in nurturing startups to build a complex financial support system for local technology-based startups and to promote a virtuous cycle in the local startup ecosystem.
According to the agreement, Kibo will recommend excellent startups among the companies receiving guarantee and investment support, and POSTECH Holdings will recommend promising startups it is nurturing. The two organizations plan to create synergy effects through follow-up support such as joint investment in these companies and joint hosting of IR days.
In particular, Kibo will provide technical finance support such as guarantees and investments for recommended companies, and will also provide non-financial programs such as consulting and technology transfer. The collaboration between Kibo, a leading technical finance organization, and Postech Holdings, a specialized investment organization for deep-tech startups, is expected to enable three-dimensional and effective support for regional technology SMEs from the initial startup stage to the scale-up stage.
Lee Sang-chang, CEO of Kibo, said, “This business agreement is significant in that Kibo and local professional investment organizations have joined forces to revitalize the local investment ecosystem,” and added, “Going forward, Kibo will further strengthen cooperation with relevant organizations to support local startups that have excellent technological prowess but are having difficulties in raising funds.”
- See more related articles
You must be logged in to post a comment.