Kibo, Support for Brokerage Fees in Technology Transfer for SMEs

Recruitment of Participating Companies for the 'Innovation Brokerage Service Utilization Promotion Project'

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 10th that it is recruiting small and medium-sized enterprises (SMEs) to participate in the 'Innovation Brokerage Service Utilization Promotion Project.' This project was established to reduce the cost burden on companies by supporting brokerage fees paid by SMEs to technology transaction institutions during the technology transaction process and to promote technology transactions centered on SMEs.

The support targets are SMEs that have paid brokerage fees after signing technology transfer contracts. Depending on the type of technology transaction, it is divided into the trust technology type for promoting transactions of technologies entrusted to technology trust management institutions, and the general technology type for transferring public technologies through brokerage activities of private technology transaction institutions. The support amount is either the full or partial brokerage fee paid by the consignor for trust technology, or the full or partial brokerage fee paid by the buyer for general technology.

Kibo plans to select participating companies through a written evaluation by a selection review committee composed of internal and external experts and support brokerage fee costs for about 60 cases annually. Selected companies can receive support up to a limit of 10 million KRW per the same technology.

Kim Jong-ho, Chairman of Kibo, said, "This Innovation Brokerage Service Utilization Promotion Project will significantly contribute to alleviating the cost burden for SME technological innovation and establishing a private cooperation system to activate technology transactions. Going forward, Kibo will actively support the strengthening of technological capabilities of SMEs through various technology transaction activation support projects and faithfully fulfill its role as a dedicated institution for technology transactions and commercialization."