The Korea Technology Finance Corporation (KTFC) (Chairman Kim Jong-ho, hereinafter referred to as KIBO) and the Seoul Economic Promotion Agency (CEO Kim Hyeon-woo, hereinafter referred to as SBA) announced on the 13th that they signed a ‘Business Agreement for Activating Support for Startups’ at the KTFC Seoul office.
This agreement was created to discover startups with excellent technological capabilities and growth potential by establishing an organic cooperative system between the two organizations and to actively foster regional innovative technology companies by linking them with small and medium-sized enterprise support programs.
Since its establishment in 1998, SBA has been a specialized business support organization that supports small and medium-sized businesses in the Seoul area by providing funding, investment, exports, certification, and start-up support to promote business start-ups, grow businesses, and foster industries.
According to the agreement, SBA will discover and recommend excellent technology startups in the region, and Kibo will provide tailored programs for startups, such as ▲technology financing and guarantee fee reductions, ▲investment linkage and certification evaluation, ▲technology transfer and technology protection, for recommended SMEs to support the successful growth of excellent technology startups in the region.
In addition, the two organizations plan to create synergy effects by activating information exchanges on regional technology startups and innovative technology companies, and expand cooperation to strengthen the research capabilities of excellent local startups. Based on this, they also decided to join forces to create a technology-based innovative growth ecosystem.
Jeong Gyu-yeol, head of Kibo’s Seoul Western Regional Headquarters, who attended the signing ceremony, said, “Kibo is actively supporting technological innovation and scale-up of startups through customized programs for each growth stage of small and medium-sized and venture companies.” He added, “We will continue to expand collaboration with related organizations to promote startups and innovative growth of excellent technology companies and contribute to revitalizing the regional economy and the people’s livelihood economy.”
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