The Korea Technology Finance Corporation (KTFC) (Chairman Kim Jong-ho, hereinafter referred to as KIBO) announced that it signed a 'Business Agreement on Technology Finance Support for Fostering Technology Startups in the Bio-industry' with the Chuncheon Bio-industry Promotion Agency (President Kim Chang-hyeok, hereinafter referred to as the Promotion Agency) on the 8th at the Promotion Agency located in Chuncheon, Gangwon-do.
This agreement was created to establish an organic cooperative system between the two organizations to discover biotechnology start-ups in the Gangwon region with excellent technological prowess and growth potential and to strengthen customized growth support.
Since its establishment in 2003, the Promotion Agency has been a specialized support organization that has led the development of the local bio industry through support projects for each stage of growth, including technology commercialization, domestic and international marketing, and human resource development for bio companies.
According to the agreement, the Promotion Agency will discover and recommend excellent local bio start-ups, and Kibo will support the stable growth of local small and medium-sized enterprises by linking them with customized support programs for technology start-ups, such as ▲preferential guarantee ratio and guarantee fee reduction ▲investment linkage and certification evaluation ▲technology transfer and technology protection for recommended small and medium-sized enterprises.
In addition, the two organizations plan to strengthen information exchange on excellent technology startups in the bio industry and expand collaboration to foster a local startup ecosystem and foster local industries.
Kim Chang-hyeok, president of the Korea Biomedical Research Institute, said, “Through this agreement, we have created an opportunity for excellent bio companies to grow steadily,” and added, “The Korea Biomedical Research Institute will continue to actively discover and support companies with high technological prowess and growth potential, and do its best to create an innovative ecosystem for the local bio industry.”
Kim Seong-tae, head of Kibo’s Seoul Eastern Regional Headquarters, said, “This agreement establishes a cooperative foundation for full-cycle growth support from startup to scale-up for excellent bio companies in the Gangwon region.” He added, “Kibo will continue to expand customized support for the region through collaboration with relevant organizations and strive to contribute to revitalizing the local economy and creating quality jobs.”
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