Innovative Technology Companies in Startups and Ventures
Focused Support for Finance and Public Market Access
The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 13th that it has signed a Memorandum of Understanding (MOU) with the Public Procurement Service (Administrator Kim Yoon-sang) to pioneer public market channels and provide financial support for innovative technology companies.
According to the MOU, both organizations will actively cooperate in ▲ discovering innovative procurement products ▲ supporting market channels and financing for startups, ventures, innovative products, and companies designated as excellent procurement goods ▲ pioneering export routes for promising companies entering overseas procurement markets.
Through this MOU, Kibo has secured the basis to discover innovative procurement companies and support them with technology financing. The Public Procurement Service has diversified support methods and increased support intensity by expanding procurement company support policies, which were previously limited to public purchases, into the financial sector.
Kim Jong-ho, Chairman of Kibo, stated, "Based on the mutual cooperation system between Kibo and the Public Procurement Service, we will continuously expand comprehensive support such as preferential guarantees, investment linkage, technology transfer, and technology protection for innovative procurement companies." He added, "Through this MOU, we hope that innovative procurement companies will scale up into companies with technological capabilities and global competitiveness, contributing to the national economy."
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