Kibo achieves R&D commercialization financial support target of KRW 340 billion early

The Korea Technology Finance Corporation announced on the 5th that it achieved its guarantee supply goal of 340 billion won early with the 'R&D commercialization project guarantee' and 'R&D commercialization securitization guarantee' newly introduced this year.

The legal basis for R&D commercialization guarantee was established through the revision of the 'Small and Medium Enterprise Technology Innovation Promotion Act'. Separate from existing policy guarantees, it was introduced to support commercialization of companies with national R&D achievements.

By implementing two guarantees, KOTEC provides funds necessary for producing prototypes and building mass production facilities to companies that commercialize government R&D results or technologies transferred from public research institutes.

It reduces the funding burden that arises during the commercialization process of technology companies and helps lead to excellent R&D performance entering the market.

In response to the increased demand for commercialization funds since the system was implemented last June, KOTEC quickly achieved the initially set annual guarantee supply target of KRW 340 billion.

As a guarantee for the actual R&D commercialization project, 1.5 billion won was provided to Company A, which developed AI-based automation technology in the field of non-destructive testing.

In addition, 1 billion won was provided to company B, which developed nanocomposite materials that can be used in the bio, medical device, and semiconductor fields.

Through R&D commercialization and securitization guarantee, 2.5 billion won was provided to Company C, a prospective mid-sized company in the K-beauty field that is seeking to enter the overseas market with a multi-frequency ultrasonic beauty device using self-developed piezoelectric elements.

Next year, KOTEC plans to expand financial support to the four major new growth areas of the Ministry of SMEs and Startups: new security, pharmaceuticals/bio, climate technology, and K-consumer goods.