KIBO, Gyeongbuk Center for Creative Economy and Innovation "Join Hands" to Foster Local Startups

Nurturing Regional Strategic Industries
Supporting the Growth of Innovative Companies

The Korea Technology Finance Corporation (KIBO) announced on October 27 that it had signed an “Agreement on Discovering Startups in Gyeongbuk’s Strategic Industries and Innovative Growth and Connecting Them with Investment” with the Gyeongbuk Center for Creative Economy and Innovation. The agreement aims to support the growth of regional startups with strong technological capabilities and energize the local startup ecosystem by linking the two institutions’ capabilities in identifying and nurturing companies with their financial support systems.

Under the agreement, the Gyeongbuk Center for Creative Economy and Innovation will recommend startups with high growth potential to KIBO. KIBO plans to provide the recommended companies with preferential guarantees, including reduced guarantee fees, and connect them with investment. It also plans to offer a range of non-financial support, including technology protection and technology transfer services, as well as consulting.

Attendees at the signing ceremony, including KIBO Director Lee Sangchang (fourth from left in the front row) and Gyeongbuk Center for Creative Economy and Innovation CEO Yoo Juhyeon (fifth from left in the front row), pose for a commemorative photo. Photo: KIBO

The Gyeongbuk Center for Creative Economy and Innovation is a leading startup support institution in the Gyeongbuk region. It operates various programs, including “G-Star Dreamers,” “Startup-Bus,” and “TIPS,” contributing to the discovery and development of promising local startups.

“I hope this agreement will create more opportunities for local startups with excellent ideas and technological capabilities to attract investment and grow,” said KIBO Director Lee Sangchang. “KIBO will continue to work closely with relevant regional institutions to actively identify innovative companies and inject new vitality into the local startup ecosystem.”

Meanwhile, KIBO previously signed an “Agreement on Productive Finance to Boost the Daegu-Gyeongbuk Venture Fund and Venture Ecosystem” with Korea Venture Investment Corp. and iM Bank on October 21. Building on the two agreements signed in succession in Daegu and Gyeongbuk, KIBO plans to strengthen its support throughout the entire growth cycle of promising venture companies, from their discovery and investment connections to the provision of growth capital, and take the lead in revitalizing the venture ecosystem in the Daegu-Gyeongbuk region.

This content was produced with the assistance of AI translation services.