Certification of Venture Businesses
- The certification of Venture Business refers to a process by which it is assessed whether a firm satisfies all the requirements to be a Venture Business pursuant to the rules and regulations set by related law - 'Act on Special Measures for the Promotion of Venture Businesses'.
- The act designates KOTEC as one of the main institutions that conducts the technology assessment and awards the certificate of Venture Business to eligible companies. KOTEC has been running the website(www.venturein.or.kr) in which a good portion of the certification process is conducted online including filing of application and notification of the assessment results.
- There are four types of Venture Businesses and KOTEC involves in the certification of three types of them. The diagram below shows types, requirements and procedure of KOTEC's Venture Business certification.
Types of Venture Businesses and Requirements
|To-be Venture Business||
KOTEC's Technology Appraisal Center
On-site Audit & Technology Assessment
Notification of Assessment Results & Awading of Certificate
Disclosure of Information