Kibo and IITP Join Hands to Support ICT R&D Commercialization Companies

R&D Project Recommendations · Technology Finance Support

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter Kibo) announced on the 18th that it has signed a business agreement with the Institute for Information & Communications Technology Planning & Evaluation (President Jeon Seong-bae, hereinafter IITP) to support the creation of ICT R&D achievements and open innovation for small and medium-sized venture companies.

This agreement was established to activate the commercialization of technology results from the 'ICT R&D Innovation Voucher Project' between Kibo and IITP and to discover joint projects, thereby building a mutually organic cooperation system.

Through the agreement, Kibo will comprehensively support technology transactions and technology finance by ▲ recommending ICT R&D tasks to companies transferring ICT technology ▲ linking intellectual property (IP) acquisition guarantees to successful companies in the 'ICT R&D Innovation Voucher Project.' IITP will provide ▲ exchange of research results from the 'ICT R&D Voucher Project' ▲ information on ICT technology policy and industry trends.

Kim Jong-ho, Chairman of Kibo, said, "With this agreement as an opportunity, we expect both organizations to actively promote customized support for open innovation companies and ICT R&D technology commercialization companies, playing a significant role in spreading research achievements and promoting technology transfer and commercialization." He added, "Going forward, Kibo will do its best to further expand the scope of collaboration in specialized fields between the two organizations and strengthen support for open innovation, thereby enhancing the technological competitiveness of small and medium-sized venture companies in the ICT sector."