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APEC SME Innovation Center is an International Organisation, managed by the Small and Medium Business Corporation (SBC). Previously, the APEC SMEIC was managed by the Korea Technology Information Promotion Agency for Small and Medium Enterprises (TIPA).
Its mission is to undertake activities to enhance SME innovation capacity and take the lead in establishing collaborative SME innovation networks of APEC member economies.
The APEC SME Innovation Centre main objectives are:
- to enhance innovative capacity and build an infrastructure at home and abroad in a bid to promote SME innovation in the APEC region and create an environment for the regional free trade and investment liberalization.
- to play a leading role in upgrading SME competitiveness, establishing collaborative networks and fostering SME innovation by undertaking cooperative programs with APEC member economies based on the "2005 Daegu Initiative".
The APEC SME Innovation Center was established in 2006 to play the role in promoting SME innovation in the APEC region so that developing member economies can achieve the Bogor Goal by the year of 2020. The Bogor Goal is for member economies to reach free trade and investment liberalization in APEC. The Korean government suggested establishment during the 2005 APEC SME Ministerial Meeting and member economies endorsed it.