Korea Technology Finance Corporation (KIBO, Chief Director Jung Yoon-mo) announced that it will be leading development of ‘development of data-based evaluation model to support decision-making process regarding financial support for innovative small and medium companies’, which is promoted by European Commission (EC), as the main partner.
EU was able to see how excellent KIBO’s technology rating system (Kibo Technology Rating System) is and has been requesting KIBO to develop and spread of European-style KTRS.
KIBO recently signed an agreement with EC in Greece. It received entire amount needed for development from EC and it participated in a kickoff meeting to start off the project after forming a consortium with 9 organizations from 6 countries that are part of EU (European Union).
EC’s SMEs (Small and Medium-sized Enterprises) project called ‘InnoRate’ is a technology rating service platform that supports innovative small and medium companies with loans, financing, and consulting through technology rating results.
KIBO is going to develop ITRS (InnoRate Technology Rating System), which is a preliminary evaluating tool, and establish an European technology rating service platform after going through inspections by experts and development of in-depth evaluation tool for quantitative evaluation.
KIBO is going to design ITRS indicators based on KTRS and set up ITRS evaluating system by deciding on a weight per indicator. It is responsible with major tasks that are needed to establish InnoRate.
“We have improved developing countries’ abilities in technology rating by spreading KTRS to Thailand, Vietnam, and Peru.” said a representative for KIBO. “Excellence of KTRS has been recognized globally as we lead in development of an European rating model and establishment of technology rating service platform.
Staff Reporter Park, Jungeun | jepark@etnews.com