Ecopro said on Tuesday it signed an agreement with the Foundation for the Promotion of Technoparks and Chungbuk National University’s industry-academic cooperation foundation to support the growth of regional ventures.

Under the agreement, Ecopro and its affiliates will pass on technical know-how to venture companies in North Chungcheong and expand an open-innovation model. The open-innovation engine support project hosted by the foundation matches infrastructure from leading local companies with technologies from small and venture firms to support technology demonstrations and joint research and development. Ecopro has supported local companies under the project for the Cheongju special zone from August last year to the end of January this year.

It plans to strengthen its role in supporting venture growth in the region. Ecopro Partners, the Ecopro Group’s venture capital firm, will identify promising companies in the Cheongju special zone in North Chungcheong. Four affiliates — Ecopro BM, Ecopro HN, Ecopro CNG and Ecopro Materials — will support technology verification.

Kim Jong-seop (김종섭), CEO of Ecopro HN, said, "We will share Ecopro’s experience in technology demonstrations with companies in the special zone and take the lead in creating a virtuous-cycle ecosystem that supports the growth of small and venture companies in the region."

Jeong Hee-kwon (정희권), chairman of the foundation, said, "This agreement will serve as an opportunity for a virtuous cycle in which deep-tech ventures grow into global companies and then foster innovative firms again." He added, "We will actively support the growth of the innovation ecosystem centred on the battery eco-friendly industry in the North Chungcheong region."