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Oxford Innovation signs Agreement with Korea to promote Technology Exchange


Oxford Innovation, the UK’s leading operator of innovation centres and business angel networks, has entered into a collaboration agreement with the Korea Technology Credit Guarantee Fund (KOTEC) to promote the exchange of emerging technologies and best practice in technology commercialisation between Oxfordshire and Korea.

Senior representatives from KOTEC, a major fund established by the Korean Government to support early stage technology companies, visited Oxford Innovation’s offices where Mr Bong-Soo Park, Chairman and President of KOTEC, and Dr David Kingham, Chief Executive of Oxford Innovation, signed an agreement aimed at encouraging joint ventures, alliances and partnerships between Korean and Oxfordshire businesses engaged in the commercialisation of innovative technologies.

Under the agreement Mr Jong Hyung Kim, Deputy Director of KOTEC, will be seconded to Oxford Innovation to work with senior staff on projects to facilitate the assessment and transfer of cutting edge technologies between the UK and Korea.

Mr Park said:
“We are delighted to enter into this agreement with Oxford Innovation. Oxfordshire is a world-renowned centre of excellence for innovation and emerging technologies, particularly from its academic research institutions. Oxford Innovation has substantial experience in technology appraisal and commercialisation, especially through start-up companies, and can provide access to a range of academic and business networks interested in taking forward new technologies. This work will contribute to the future economic prosperity of both the UK and Korea, and enhance collaboration between the two countries.”

Dr Kingham said:
“Korea is one of the world’s leading generators of new technologies, particularly in the IT, telecoms and electronics sectors, and KOTEC plays a significant role in providing high growth potential companies that have outstanding technologies but lack collateral, with the finance they need to develop into substantial enterprises. Oxford Innovation looks forward to working with KOTEC to promote business exchanges that can benefit companies with promising new technologies in Oxfordshire and Korea.”

PHOTO AVAILABLE ON REQUEST
Dr David Kingham, Chief Executive of Oxford Innovation, and Mr Bong-Soo Park, Chairman and President of KOTEC, at Oxford Centre for Innovation where they signed an agreement aimed at promoting technology transfer between Oxfordshire and Korea.

NOTES FOR EDITORS
1. OXFORD INNOVATION LTD
Press enquiries to: Margaret Henry, Company Secretary & PR Manager.
Tel: +44 (0)1865 811127 Email: m.henry@oxin.co.uk www.oxin.co.uk

Oxford Innovation Ltd provides services to innovative start-up companies, and to government bodies that promote enterprise. It is the UK’s leading operator of Innovation Centres, managing 12 Innovation Centres that provide flexible office and laboratory space to over 300 technology, knowledge-based and creative companies.

Oxford Innovation manages Oxfordshire Investment Opportunity Network (OION), Europe’s most successful technology business angel network that links investors with entrepreneurs seeking funding from £150,000 to £2 million. In the year to March 2004 OION helped 18 companies raise a total of £5 million, and during the last four years has raised £14.8m for 61 companies. www.oion.co.uk
Oxford Innovation also runs Thames Valley Investment Network (www.tvin.co.uk) and Solent Investment Opportunity Network (SION, www.solenthub.co.uk), which hold monthly presentation meetings where selected entrepreneurs present their business proposals to investor members in the Reading and Solent areas.
In November 2004, Oxford Innovation launched Oxford Early Investments (www.oxei.co.uk), a new investment network to help very early stage companies raise finance of up to £150,000.

2. ABOUT THE KOREA TECHNOLOGY CREDIT GUARANTEE FUND (KOTEC)
KOTEC was founded in 1989 by the Korean Government as a non-profit guarant


Publisher Contact Information:

Oxford Innovation
+44 (0)1865 811127
m.henry@oxin.co.uk

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