Kibo and Gyeonggi Science and Technology University Join Hands to Foster Startup Ecosystem

Business Agreement Signed to Foster Startup Ecosystem

Park Juseon, Head of the Incheon Regional Headquarters of the Korea Technology Finance Corporation (left), and Oh Sanggi, Director of Industry-Academic Cooperation at Gyeonggi Science and Technology University, are posing for a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 23rd that it has signed a business partnership agreement with the Industry-Academic Cooperation Foundation of Gyeonggi Science and Technology University (Gyeonggi Science Tech University) to support regional startup activation and the growth of promising startup companies.

This agreement was established to build a comprehensive support system to activate challenging startups of local companies possessing excellent technologies and ideas and to promote technology commercialization.

According to the agreement, Gyeonggi Science Tech University will recommend outstanding startup companies within the university to Kibo, and Kibo will provide financial support such as guarantees and investments, as well as non-financial support including consulting, technology transfer, and initial public offering (IPO) assistance to the recommended companies. Additionally, both organizations agreed to establish a cooperative system in various fields such as technology evaluation and technical advisory based on their professional capabilities.

The strategic business linkage between Kibo, which supports successful startups through customized startup programs, and Gyeonggi Science Tech University, which promotes talent development in new growth sectors, is expected to be an important opportunity for startups originating from the region to secure technological competitiveness and grow.

Park Ju-seon, head of Kibo’s Incheon Regional Headquarters, said, "Universities possess human and material innovation capabilities, and there is a need for campuses to transform into innovative startup spaces as optimal sites for future new industries," adding, "We will continue to actively strive to strengthen the sustainable growth capabilities necessary for startups that began in the region to grow and leap forward."