Korea Credit Guarantee Fund launches 16th Innovation Icon program, offering up to W20b per company

Korea Credit Guarantee Fund said Tuesday it is accepting applications for its 16th Innovation Icon program through Aug. 26.

Innovation Icon is the fund's flagship scale-up program, designed to help technology-driven startups and companies with new business models grow rapidly. It provides both financial and non-financial support to help promising firms expand beyond the domestic market and develop into global unicorns.

Eligible applicants are companies in new-industry sectors that have been in operation for between two and 12 years. To qualify, a company must post annual sales of at least 1 billion won ($699,000) and have achieved an average sales growth rate of 20 percent or more over the past two years, or have raised a cumulative total of at least 5 billion won from institutional investors.

The fund plans to select around four companies as 16th Innovation Icon participants after a screening process. Selected companies will receive credit guarantees of up to 20 billion won over three years, with a minimum guarantee fee rate of 0.5 percent and additional fee support.

Non-financial services will also be provided, including support for overseas market entry, customized consulting and public relations assistance. The program aims to go beyond simply supplying capital by offering comprehensive support tailored to each company's stage of growth.

To date, the fund has extended a combined guarantee limit of 1.1 trillion won to 79 Innovation Icon companies. In April, it selected six companies through the 15th Innovation Icon program.

Among the program's notable alumni are AI chipmakers Furiosa AI and Rebellions. Nota, Lincsolution and RecensMedical have since listed on the Kosdaq market.

"Innovation Icon companies are delivering results in areas such as investment attraction, initial public offerings and overseas market entry," a fund official said. "We hope innovative companies that will drive the next generation of growth in our economy will actively take part in this round of applications."

Details and applications are available through the startup application menu on the fund's website under "Shinbo ON-Biz."