The Small and Medium Business Corporation (SBC) plans to establish a global innovation growth center at global innovation footholds, including Seattle in the U.S., in order to foster innovative small and medium companies and venture businesses.
SBC President Lee Sang-jik visited Silicon Valley and Seattle from Dec. 17 and decided to install its first global innovation growth center in Seattle. He signed a business agreement with LA Cleantech Incubator, a startup company in Los Angeles.
"The Seattle area is the hub of venture innovation ecosystem where many global innovative companies such as Boeing, Microsoft, and Costco are located," Lee said. "We will firmly settle the public accelerating function, which is the core of the global innovation growth center, so that more Korean unicorn companies can be created."
It is planning to operate its new global innovation growth center as a platform exclusively for supporting growth-promising companies hoping to enter global markets. It also plans to provide support for investment in global venture capital (VC), commercialization of technologies, M&A arrangement, and training of experts in smart factory that is linked to local advanced institutions.
SBC said it has secured 3.2 billion won in government budget for next year and is considering installing additional facilities in China and India, in addition to Seattle.
