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INNOBIZ LOAN & KOTEC’s Technology Rating System (KTRS)

INNOBIZ LOAN & KOTEC’s Technology Rating System (KTRS). Contents. 1. Overview of INNO-BIZ LOAN. 2. Technology Evaluation System. 3. Technology Rating System(KTRS ). SYSTEM OF INNOBIZ LOAN. ③. KOTEC. SMEs. ⑤. ⑥. ②. ④. ①. Loan Application Request Technology Valuation

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INNOBIZ LOAN & KOTEC’s Technology Rating System (KTRS)

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  1. INNOBIZ LOAN &KOTEC’s Technology Rating System (KTRS)

  2. Contents 1. Overview of INNO-BIZ LOAN 2. Technology Evaluation System 3. Technology Rating System(KTRS)

  3. SYSTEM OF INNOBIZ LOAN ③ KOTEC SMEs ⑤ ⑥ ② ④ ① • Loan Application • Request Technology Valuation • 3. Due Diligence(Technology Valuation) • 4. Issue Technology Appraisal Certificate(TAC) • 5. Issue Credit-Based Loan • 6. Gov. Subsidy for SME’s Technology Appraisal Fee GOVERNMENT KOOKMIN BANK

  4. The Definition of INNOBIZ INNOBIZ : A compound word of Innovation & Business (Tech Competitiveness) Select Excellent Businesses with Technological Competitiveness & Future Growth Potential and Promote them to be Internationally Competent Enterprises: Financing Technological, & Marketing Support Many Innovative companies which have just finished R&D stage has the high probability to die off due to the vulnerability to cash flow => That’s why we are!

  5. Benefit of INNOBIZ LOAN

  6. Global economy is led by corporations with intangible assets represented by IP(Intellectual Property) High-growth firms are more R&D-intensive The supporting effect of innovative SMEs is better than that of ordinary SMEs Need a measure to find innovative SMEs with technology Information asymmetry between financial institutions and borrowing SMEs Lacks of tangible collaterals in early stage SMEs Necessity of Technology Evaluation

  7. Technology Evaluation is a subjective activity Technology is neither visible nor tangible Compared to the evaluation of beauty Technology Evaluation needs some understanding of the technology There are a number of traps and pitfalls that technology manager may encounter The value of technology is also affected by various non-technological factors Technology is traded in supplier’s market Hard to reach balanced price through market mechanism 1. Overview of Technology Evaluation What’s Technology Evaluation ?

  8. Korea Technology Finance Corporation(KOTEC) • Government-Funded Institution Under the Special Act in Korea (Established in 1989) • Leading the settlement & development of “Technology Financing System” to Uplift National Economy’s Dynamics • Playing a role as “the Core Infra-Structure of Government’s Policy for Conversion into Innovation-led Industrial Structures” • Supplying Policy Financing to “Bridge a gap of incomplete Financial Markets” ; Information Asymmetry in Tech SMEs

  9. KTRS(KOTEC’s Technology Rating System) In Technology Level, technology innovation and business possibility are measured In Risk Level, Risk of technology is computed only from technology-based input factors(not financial terms) KTRS Rating is the Output of Matrix combination of Technology Level and Risk Level Credit Rating System Forecast corporation’s insolvency Use financial model(Credit and debt redemption capability) and non-financial model(CEOs and financial transaction soundness) Financial model is more dominant than non-financial model 2. Kibo Technology Rating System KTRSvs. Credit Rating System

  10. 2. Kibo Technology Rating System Technology Level in KTRS Input Variables Scoring Model Technology Level 45 Indicator Data • Scoring Model from AHP analysis • Using expert-advised questionnaires, give weighted value to questions • Give different weighted scores by industries • Rate business success prospects of the technology in terms of its technological • ability and business prospects The Analytic Hierarchy Process (AHP) is a structured technique for dealing with complex decisions. Rather than prescribing a "correct" decision, the AHP helps the decision makers find the one that best suits their needs and their understanding of the problem.

  11. 2. Kibo Technology Rating System Risk Level in KTRS Input Variables Logit Model Risk Level • Economic environment variable • Corporate environment variable • 45 rating indicators data • Risk Level from Regression analysis • Analyzed 11,000 data (Tech. Appraisal Guarantee data) collected since ’99 • using statistical techniques • Unlike general credit rating models based on financial variables, • this Logit model is designed to measure technology-related risks

  12. 2. Kibo Technology Rating System Detailed Indicators in KTRS Management Module Technology Module • Environment of technology development • Output of technology development (patents, etc) • Technology superiority • Technology commercialization • Knowledge management • Technical experience • Management ability • Fund supply • Human resource Market Module Business & Profit prospect Module • Market potential • Market characteristics • Product competitiveness • Sales schedule • Amount of sales • Profitability

  13. It’s not fair ! Should SMEs in developing countries depend on low labor costs? We are trying to transform economy from Labor-Intensive to Technology-Intensive in developing countries... This is the spirit of KOTEC and Kookmin Bank

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