○ Gyeonggi-do has announced the Russian Innovation Task Advancement Program for small- and medium-sized enterprises in the province
– It seeks 3 enterprises to participate in the program from May 20 to June 17
– It will provide up to 10 consulting sessions to Gyeonggi enterprises engaged in technological cooperation with Russia
– Consultants from the Korea Technology Finance Corporation will provide in-depth consulting services in relation to Russian technology transfers and business development

Gyeonggi-do is seeking enterprises based in the province to participate in the ‘2021 Russia Innovation Task Advancement Program’ that will run until June 17.

The Russian Innovation Task Advancement Program offers consulting services pertaining to technology transfers and business development in Russia to Korean enterprises that are or will be engaged in technological cooperation with Russia. The consulting services are provided by consultants from the Korea Technology Finance Corporation.

On April 15, the province (Gyeonggi-Russia Tech Plaza) signed a Memorandum of Understanding with the technical evaluation specialist Korea Technology Finance Corporation on the Russia Innovation Task Advancement Program. Proceeding from the MoU, the search for participants aims to provide professional support to Gyeonggi enterprises in such sectors as the introduction of original technology to Russia, assessing the value of technology, and the commercialization of technology, while also strengthening support for enterprises throughout their entire life-cycles.

Those enterprises selected for the Russia Innovation Task Advancement Program will be able to receive consulting services from the Korea Technology Finance Corporation on technology transfers to Russia, technology value assessments, and technology commercialization. In addition, Gyeonggi enterprises that succeed in technology transfers to Russia will have the opportunity to receive acceptance guarantees for their intellectual property (IP) from the Korea Technology Finance Corporation. This acceptance refers to a guarantee program that supports enterprises that acquire and commercialize IP through trading and license agreements.

A total of 3 enterprises will be able to participate in the program, and each of the selected enterprises can receive up to 10 consulting sessions (up to KRW 3 million in value). The consulting services will take place on-site for a period of 3 months after selection.

In order to strengthen mutual cooperation through technology cooperation between enterprises based in Russia and Gyeonggi, the province opened an exclusive technology cooperation body for Russia, the Gyeonggi-Russia Tech Plaza, in October 2019, the first such initiative by a local government in Korea. It is currently working on building its position as a technology matching platform.

Russia possesses key contactless technologies in sectors such as information technology (IT) and software, as well as cutting-edge technologies related to materials, parts, and equipment. Gyeonggi has a number of small- to medium-sized enterprises featuring superior commercialized technologies that supply materials and parts to Samsung, LG, Hyundai-KIA Motor, and so on. Cooperation between the two regions is creating significant synergy effects.

Enterprises that wish to participate in the Russia Innovation Task Advancement Program can apply through the Gyeonggi Technopark Performance Management System (https://pms.gtp.or.kr/) until June 17. For more information on the program, visit the Gyeonggi-Russia Tech Plaza website (http://grtp.or.kr) or call the Gyeonggi Technopark (031-400-3731).

A representative of the Gyeonggi Provincial Government said, “We hope this program, undertaken in cooperation with the Korea Technology Finance Corporation, can help SMEs in Gyeonggi-do successfully engage in technology transfers, value assessments, and technology commercialization in Russia.”