The Ministry of Science and ICT (MSIT, Minister: Lim Hyesook) announced that the first round of review on candidate companies to be invested with the first Technology Transfer(TT) fund went successfully. This TT fund, first of which is worth of 20 billion won, is designed to support the commercialization of technologies transferred from universities or research institutions, at the initial stage.
MSIT is aiming to raise over 100 billion won in total throughout the four times of fund raises from 2021 to 2024. This year, MSIT is going to raise more than 40 billion won for the second TT fund, 20 billion won from each of public and private sectors. From the second fund on, a newly designed incentive system will be applied, where additional financial incentives will be granted to the investment advisors if their invested companies attract good amount of investment in the follow-up.
For further information, please contact Spokesperson for foreign media Kim Heehyun (E-mail: coro0131@korea.kr, 82-44-202-4027) of the Ministry of Science and ICT.
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