Kotec - Korea
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KOTEC was founded in 1989 by the Korean government to enhance technological competitiveness and development. It launched a technology appraisal system to systematically evaluate technologies. The appraisals result in reports that rate technologies or assign monetary values, which are important factors for banks' loan decisions and the purchase/transfer of technologies. KOTEC has over 530 in-house experts and 1,000 advisors who appraise technologies using the KOTEC Technology Rating System (KTRS) across its 52 appraisal centers. The KTRS evaluates applicants on 34 indices across 4 categories to determine credit guarantee eligibility.
Kotec - Korea
- 2. Founded in 1989 by the government Under ‘Korea Technology Credit Guarantee Fund Act’ Mission - to enhance technological competitiveness of SMEs - to contribute to technological development of the nation Launched technology appraisal system in 1999
- 3. Technology Appraisal of KOTEC - Systematic & in-depth procedure of technology valuation End results - Technology Appraisal Report with technology ratings or monetary values expressed on the cover
- 4. Technology ratings - Essential factor in the credit guarantee decision - good reference for local banks’ loan decision Monetary Value - Used for purchase or transfer of technologies, for M&A of technology business units - Collateral value of intellectual property such as patent
- 5. Organization - 52 Technology Appraisal Centers(Branch) - Central Technology Appraisal Institute - 2 Technology Convergence Centers Manpower - over 530 in-house experts - over 1,000 external advisors
- 6. Primary product of KOTEC’s credit guarantee business Feature: integration of technology appraisal into guarantee approval process Main tool: KTRS(KOTEC Technology Rating system) - Applicants’ technology competence and future growth potentials are analyzed
- 7. Each and every credit guarantee application go through the KTRS 34 indices evaluated 4 categories - CEO's competence - technological capability - marketability - business feasibility
- 8. Rating scale: AAA~D guarantee eligibility: B or above Various Models - Start-up Appraisal Model - R&D Appraisal Model - Knowledge Service Appraisal Model - Cultural Content Appraisal Model
- 9. The outstanding balance of credit guarantees stood at 20 trillion KRW(15 bil. EUR) as of June t his year 91.4% of it offered through the Technology Appraisal Guarantee Scheme Major Role - Eased tech SMEs’ credit crunch during Asian currency crisis & in the wake of the global financial crisis in 2008
- 10. Korea Technology Finance Corporation(KOTEC)