Small and Medium Business Technology Information Promotion Agency and Korea Credit Guarantee Foundation Association Join Forces to Support Small Business Technology Development and Commercialization

Operation of Guarantee Products for Commercialization Funds
Targeting Small Business R&D-Selected Companies

One-Stop Support from Technology Development to Commercialization

The Small and Medium Business Technology Information Promotion Agency announced on the 16th that it has signed a business agreement with the Korea Credit Guarantee Foundation Association for "supporting the technology development and growth of small business owners."

This agreement links the startup growth technology development project for small business owners (Small Business R&D), operated by the agency, with the credit guarantee functions of the Korea Credit Guarantee Foundation Association. The aim is to establish a support system so that small business owners with technological competitiveness can also stably secure commercialization funds.

On the 15th, Seongbeom Hong, Standing Director of the Korea Credit Guarantee Foundation (left), Youngjun Won, Chairman, Youngshin Kim, President of the Small and Medium Business Technology Information Promotion Agency, and Hyunjung Kim, Head of the R&D Business Division, are taking a commemorative photo after signing an agreement. Photo by The Small and Medium Business Technology Information Promotion Agency

For the first time this year, the agency will strengthen the competitiveness of small business owners by supporting 50 companies with a total of 10 billion won, selected after recommendations from the Small Enterprise and Market Service and a selection evaluation process. In addition, to meet potential funding needs that may arise during the commercialization stage after R&D support, the agency has established a cooperative system with guarantee institutions.

The agency has developed an operational plan for guarantee products in cooperation with the Korea Credit Guarantee Foundation Association, targeting companies selected for small business R&D, to support their commercialization funds. Through this, a system has been established for R&D-selected companies to receive linked support, including guarantees for commercialization funds. Specific guarantee conditions and preferential benefits will be determined and announced at a later date.

Youngshin Kim, President of the agency, said, "We hope this agreement will help small business owners with technological capabilities to reliably secure the funding needed for commercialization," adding, "The agency will continue to strengthen a support system that covers everything from technology development to commercialization, supporting the growth of small business owners."

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