Completion of Brief Session for Establishment on INNOPOLIS Public Technology-based Fund

Preparation for Cornerstone to Lead the Fourth Industrial Renovation

 of the Companies for Proceeding Public Technology Commercialization 

□     Ministry of Science, ICT, and Future Planning and INNOPOLIS Foundation (CEO Chandong, Kim, hereinafter referred to as 'INNO POLIS Foundation) have held the 'brief session for establishment on INNOPOLIS public technology-based fund' at TBC Collabo-Hall at 2pm on April 18th.

□    INNOPOLIS public technology-based fund has been established to promote public technology commercialization by supporting the growth of companies for proceeding commercialization with outcome of public research and development.

ㅇ     Total 50.1 billion Won was invested with 15 billion Won of secondly collected amount of fund in INNOPOLIS, 20 billion Won of national pension, and the amount from various local governments* and private investors.

         * Participating local governments: 1.07 billion Won from Daejeon, Gwangju, Daegu, Busan, Jeonllabuk-do, Gyeongsangbuk-do, and Gyeongsan-si

ㅇ       It is very meaningful as an exemplary case that related government bodies cooperate with each other to solve an issue of shortage for supply of technical finance in INNOBIS and make the companies for proceeding commercialization of public technology receive attention as a main character of new industrial revolution.

□     'INNOPOLIS Partners' as an operator of fund has released a plan for investment on companies that have realized the commercialization of public technology according to the intention of establishment for fund or transferred/been invested with public technologies as a small/medium and venture company.

ㅇ    Major targets for the investment of public technology fund are companies that commercialized the outcome of public research as well as government research institutes including affiliates of technology holding companies and INNOPOLIS Research Institute Spin-off Company. Hereupon, more than 60% of total stipulated amount of fund is invested on major investment targets.

ㅇ      In addition, more than 50% of total stipulated amount is invested on companies in five INNOPOLIS in the nation including Daedeok, Busan, Daegu, Gwangju, and Jeonbuk.

ㅇ        Companies in the areas of local government that participate in the project as an investor are scheduled to invest for more than twice the invested amount in each local community.

□     In this brief session, three companies that proceed the public technology commercialization including Nexusbe Corporation (INNOBIS 257) and Genesystem Corporation (INNOBIS 147) were selected proceeding the investment IR.

ㅇ       IR participating companies had an opportunity to present the major business items and vision of our company followed by active Q&A about success strategies of the company.

ㅇ        CEO, Yujin Seo, from Genesystem Corporation as presenting INNOBIS, told, "We will rapidly dominate the market by acquiring price competitiveness compared to competitors based on the core technology for making it feasible to find diseases through diagnosis of molecule."

□     Companies selected as investment targets of public technology-based fund of INNOPOLIS are eligible to receive benefits including the financial support and assistance for growth and hence to proceed the advancement of transferred technology, attraction of outstanding manpower, and expansion of investment on facilities.

□     President of INNOPOLIS Foundation, Chadong Kim, expected that financial support from this fund will be of a great help on shortage of investment from companies as companies tend to experience difficulty in investment in the beginning for proceeding public technology commercialization.

ㅇ       Afterwards, he continued, "We will continue to make the greatest effort on the growth of companies of public technology commercialization by establishing venture investment fund as a third stage of technology financial road map in INNOBIS.