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 Startup Support and Technology Transfer for Fostering Innovative Growth Companies” with the Korea Photonics Technology Institute (President Shin Yong-jin, hereinafter referred to as “KIPI”) at the KIPI headquarters in Gwangju on Tuesday the 5th.
This agreement was pursued to utilize the corporate support infrastructure of both organizations to jointly discover and support excellent technology-based SMEs in the region and to establish a collaborative system for commercializing innovative technologies and establishing a foundation for sustainable growth.
As Korea's only specialized research institute in the field of optical convergence industry, the Korea Institute of Photonics Technology was established in 2001 with the goal of supporting the start-up and growth of promising companies based on optical convergence technology. Since then, the institute has systematically fostered over 200 companies over the past 25 years.
Under the agreement, the Korea Institute of Photonics Technology (KIOT) will recommend technology startups located in or affiliated with its corporate support facilities to KIOT. KIOT will then provide these companies with preferential guarantees, including startup guarantees, IP evaluation guarantees, and R&D guarantees. For companies that meet the eligibility requirements, KIOT will also provide follow-up support, including technology transfer and protection, and guarantee-linked investments.
Furthermore, the two organizations plan to establish an organic cooperative system, sharing information on companies with cutting-edge science and technology in the region and jointly planning customized support programs. Through this, they aim to discover and promote various joint projects and actively support the competitiveness and innovative growth of local SMEs.
Lee Jang-hoon, head of the Honam regional headquarters of Kibo, said, “Through this agreement, a practical foundation for cooperation has been established to support the startup and technology transfer of technology innovation companies in the region.” He added, “Going forward, Kibo will strengthen cooperation with relevant local organizations to support the sustainable growth of small and medium-sized enterprises and contribute to the revitalization of the local economy and startup ecosystem.”
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