TIPA Supports SME Technological Innovation Using Excellent Defense Technologies

[Asia Economy Reporter Kim Jong-hwa] The Korea Technology and Information Promotion Agency for SMEs (TIPA) signed a four-party memorandum of understanding (MOU) on the 15th at the Agency for Defense Development (ADD) in Daejeon to establish an organic cooperative system for "Supporting Innovative Growth of SMEs and Ventures through Utilization of Defense Technology." The MOU was signed with the participation of Kwon Chil-seung, Minister of SMEs and Startups, Kang Eun-ho, Administrator of the Defense Acquisition Program Administration, ADD, the Korea Technology Finance Corporation, and the Korea Institute of Startup & Entrepreneurship Development.

Through this agreement, TIPA will grant additional points for the Startup Growth Technology Development Project (R&D) to excellent tasks recommended by ADD and involve outstanding ADD personnel as evaluation committee members for SME R&D projects. ADD will support the transfer of excellent defense technologies to the private sector, follow-up support for defense R&BD, and startups utilizing ADD-owned technologies.

The Korea Technology Finance Corporation will provide technology information by linking ADD-owned patents to the online technology trading platform Tech-Bridge and support technology transfer demand discovery, technology brokerage, and follow-up R&D through its 68 branches nationwide.

The Korea Institute of Startup & Entrepreneurship Development will connect companies awarded at the ADD Startup Competition to the finals of the joint ministry startup competition (Challenge! K-Startup) and provide startup mentoring by defense field experts recommended by ADD.

The heads of the participating institutions unanimously stated, "Since domestic defense science technology is widely recognized for its excellence in the global defense market, it is expected to greatly contribute to the technological innovation and growth of SMEs and ventures."

Lee Jae-hong, President of TIPA, said, "With this MOU, SMEs and ventures will have an opportunity to easily review and fully utilize excellent defense technologies that were previously difficult to access," adding, "We will actively support SMEs and ventures to grow through R&D utilizing defense technology."