Main Features

• AIRATE(a.k.a KTRS) is a well-structured, data-driven and quantitative method to assess technology project or company. It is a great challenge to evaluate and rate the technological competency and market potential of tech SMEs. Nonetheless, KOTEC blazed a new trail for the technology rating by developing and launching AIRATE. Main features of the AIRATE is as follows.
• Well-structured
  • Assessment is performed by taking into account four modules (Management, Technology Prospects, Marketability, Business prospects). Each module is reduced into 3 to 4 interrelated smaller sub-categories and these sub-categories are again broken down into the diverse 'technology appraisal indicators'. This hierarchical approach was taken to ensure logical consistency. A logical approach (AHP) is employed to design the hierarchical structure.
• Quantitative
  • Among the indicators, many of them can be assessed in a quantitative manner. It is quite contrary to other technology evaluation practices which rely on expert's qualitative judgements and subjective opinions to a great extent.
• Data-driven
  • Many parts of the rating process is performed systematically by vast amount of data automatically arriving in the system. Information on macroeconomic indicators and other external variables is provided from various sources.
• Objective
  • In order to prevent evaluators' subjectivity, AIRATE is equipped with a feedback system which provides feedback to them and let them review their assessment again after a statistical comparison with the previous results of similar appraisal cases.
• Future-oriented
  • Unlike typical credit rating approaches focusing on financial performance and credit history of the company, AIRATE puts more emphasis on the company’s future potential and non-financial aspects such as the technological excellence and growth outlook.
• Patented
  • AIRATE was first patented on Korea in 2007. An international patent was also granted in Singapore in 2008. The feedback system is also patented.
• AI-based
  • AIRATE combines expert assessment with artificial intelligence(AI) techniques to assess the future growth potential and risk of technology businesses.