Koreas First Technological Assessment Open Online Trading Platform K-TOP Debuts Expected to Activate Private Sector-led Technological Innovation Ecosystem
The First Follow-up Measure of the SME Leap Strategy Announced by the Ministry of SMEs and Startups on April 29
The Korea Forest Service (Director Nam Sung-hyun) unveiled Koreas first publicly accessible (open) technological assessment online trading platform K-TOP which encapsulates the technological assessment capabilities accumulated over the past 30 years through the Technology Guarantee Fund.
The Ministry of SMEs and Startups (Minister Oh Young-ju hereinafter referred to as the Ministry) announced on the 19th (Wednesday) that it conducted a joint utilization agreement for K-TOP to activate a private sector-led technological innovation ecosystem at V Space in Seoul.
K-TOP (Kibo Technology-rating Open Platform) is an online trading platform that provides each companys technological assessment information in a graded and quantified format through three artificial intelligence (AI)-based core contents of the Technology Guarantee Fund allowing banks and related agencies to search and access this information.
Through the newly launched K-TOP technological assessment information previously produced by the Technology Guarantee Fund for guarantee assessments can now be utilized not only by companies but also by banks public institutions and others.
This enables companies to self-assess their technological capabilities and continue innovation activities while banks and investment institutions can use technological assessment information for company selection and evaluation thereby enhancing loans and investments in SMEs. Public institutions can also enhance their project execution capabilities according to their policy objectives.
Todays event included K-TOP demonstrations an opening ceremony and a signing ceremony. The signing ceremony was attended by 12 relevant institutions including the Technology Guarantee Fund IBK Bank KB Kookmin Bank Shinhan Bank Hana Bank Woori Bank Korea Venture Investment Corp. Korea Venture Capital Association Small Enterprise and Market Service Korea Institute for Advancement of Technology Korea Information Society Development Institute and Korea Invention Promotion Association.
The main contents of the agreement include △Discovery and support of innovative growth SMEs through K-TOP △Opening and joint utilization of K-TOP △Data sharing and mutual cooperation related to K-TOP to activate technological assessment.
Minister Oh Young-ju of the Ministry of SMEs and Startups stated Todays agreement is the first follow-up measure of the SME Leap Strategy announced by the Ministry on April 29 adding I hope K-TOP will emerge as a core tool for the advancement of technology finance in Korea by dramatically resolving information asymmetry issues between SMEs and financial institutions evaluating not only financial status but also intangible assets such as technological capabilities throughout the entire process of technology innovation from technology development to entrepreneurship and commercialization.
