Korea Technology Finance Corporation (KOTEC) said on the 5th that it created the R&D commercialization project guarantee to support the successful commercialization and mass production of national research and development (R&D) outcomes.
The launch of this guarantee product was pursued to resolve the structural problem in which R&D outcomes funded by government resources are not utilized due to a lack of capital, and to support the swift commercialization and market entry of superior technologies.
The R&D commercialization project guarantee is a technology commercialization specialized guarantee that departs from the existing corporation-level evaluation method and evaluates mainly the likelihood of success and growth potential of the commercialization project itself. The support targets are corporations that commercialize technologies developed through government R&D projects or technologies transferred from public research institutes, and the support limit, separate from existing guarantee limits, is up to 10 billion won when facility funds are included.
Korea Technology Finance Corporation (KOTEC) will provide benefits such as preferential guarantee coverage (85%→up to 100%) and guarantee fee reductions (up to 0.5 percentage point) so that innovative corporations can smoothly raise the funds needed throughout the entire commercialization process, including initial facility investment, productization, market development, and mass production.
Korea Technology Finance Corporation (KOTEC) will provide 260 billion won through the newly established R&D commercialization project guarantee, and in July will introduce a linked product, the R&D commercialization securitization guarantee, supplying it at a scale of 80 billion won. Through this, it plans to support a total of 340 billion won in guarantees this year to corporations commercializing government R&D outcomes and to build a financial support system that spans the entire process of technology commercialization, from research and development to commercialization and mass production.
Kim Jong-ho, chairman of Korea Technology Finance Corporation (KOTEC), said, "As the dedicated institution for R&D commercialization finance, we will build a dense financial ladder so that research and development and commercialization proceed seamlessly, and we will do our utmost to drive an innovation economy through successful commercialization."