Daejeon City Teams Up with Technology Guarantee Fund to Launch Financing Support Program, Offering Up to 3 Billion KRW Guarantee for Startups

Source: TokenPost Original Title: Daejeon City partners with Kibo to guarantee up to 3 billion KRW for tech companies…One-stop support from proof of concept to commercialization Original Link: Daejeon City reaches a cooperation agreement with the Technology Guarantee Fund to provide up to 3 billion KRW in funding guarantees for small and medium-sized enterprises and venture investment companies.

According to the agreement, the Technology Guarantee Fund will review technical achievements and, after project planning and evaluation, provide planning fund guarantees of up to 100 million KRW for each enterprise. Selected companies will be recommended to Daejeon City, which will select outstanding projects and offer tangible on-site support such as proof-of-concept costs and consulting.

Specifically, for companies that demonstrate results through Daejeon City’s proof-of-concept support projects, the guarantee amount will be significantly increased to a maximum of 3 billion KRW in commercialization fund guarantees. This greatly enhances the current support methods and is expected to lower market entry barriers after technological development.

Daejeon City Vice Mayor of Government, Economy, and Science Choi Seong-ya stated that innovative tech companies can now receive one-stop support throughout the entire process of R&D, proof-of-concept, and commercialization. The city will continue to expand public and private sector cooperation networks.

This initiative helps activate a technology-centered entrepreneurial ecosystem. For small and medium-sized enterprises and venture capital firms with strong technological capabilities but facing funding issues, it will be a significant aid. Other local governments are also likely to consider this model to build regional innovation ecosystems.