Kibo Leads Social Value Realization Through Laboratory Startup Support

Southeast Region Laboratory Startup Innovation Group and Laboratory Startup Activation Business Agreement

Kim Young-chun, Director of the Korea Technology Finance Corporation (right), and Noh Seong-yeo, Head of the Southeast Region Experimental Startup Innovation Group, are posing for a commemorative photo after signing the agreement.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 24th that it has signed a 'Business Agreement for Startup Activation and Social Value Realization' with the Southeast Region Laboratory Startup Innovation Group to promote laboratory startups led by young researchers in the region.

According to the agreement, when the Innovation Group recommends laboratory startup exploration teams with excellent technology to Kibo, Kibo will provide free technology evaluations through talent donations and offer not only financial support for startups using the pre-startup support system but also non-financial services such as consulting.

Kibo expects that this agreement will support the successful startups of laboratory startup exploration teams located in the Southeast region (Busan, Ulsan, Gyeongnam, Jeju), thereby realizing social value by revitalizing startups in the region and creating quality jobs.

Kibo's pre-startup support system is a startup support program introduced in March 2013 to address the difficulties faced by prospective entrepreneurs who give up startups due to funding challenges during the startup preparation process. It resolves uncertainties in securing startup funds through financial support and provides necessary startup information in a mentoring format, helping about 7,000 people succeed in starting businesses so far.

Kim Young-chun, a director at Kibo, said, "To create quality jobs, it is necessary to support laboratory startups led by young researchers and provide close support from the pre-startup stage so that they can grow into unicorn companies." He added, "Kibo will continue to take the lead in realizing social value through job creation by actively supporting laboratory startups."