Korea Technology Finance Corporation (KOTEC) said on the 5th it signed a memorandum of understanding (MOU) on the 4th with the Aerospace Industry-Academia Convergence Center to support startups and innovative growth of technology small and medium-sized corporations in Incheon.
The agreement was pursued as Incheon begins full-fledged growth as an aerospace industry hub, with the two institutions linking their technology infrastructure and corporations support capabilities to spur startups in the aviation and space sectors and activate an open technology innovation ecosystem.
Under the agreement, the two institutions plan to promote: ▲ discovery, recommendation, and support for technology startup small and medium-sized corporations ▲ identification of demand for technology transaction ▲ guarantee support for corporations introducing external technology and linkage with Incheon City's financial support programs ▲ exchange of information and human resources ▲ mutual cooperation across all aspects of corporations support.
In particular, KOTEC will link guarantee support with Incheon City's interest subsidy program to build a comprehensive support system that covers all stages from technology transfer to funding, so that small and medium-sized corporations in the aviation and space sectors can adopt excellent technologies and move toward commercialization.
Shim Seong-hak, head of KOTEC's Incheon Regional Headquarters, said, "This agreement has established a financial support system for the step-by-step growth of technology startup corporations in Incheon," and added, "KOTEC will continue to expand cooperation with related institutions to actively promote the commercialization of outstanding technologies and strengthen the technological competitiveness of local small and medium-sized corporations."