Following Gyeonggi Technopark's participation in TechInnovation 2016, a Memorandum of Understanding between the technopark and IPI was inked to deepen collaboration ties between the two organisations on 22 September 2016. Established in the Gyeonggi province in South Korea, the Gyeonggi Technopark is a technological park set up by the country’s Ministry of Commerce, Industry and Energy to promote the growth of knowledge-based industries and innovative technologies by providing infrastructure, incubation facilities and business support.

Gyeonggi Technopark and the technologies it offers would add to IPI’s valuable sources of network partners and innovations respectively in addressing the technology needs of Singapore-based enterprises. IPI and Gyeonggi Technopark will explore ways to promote technology transfer and R&D collaboration between the universities and start-ups from the Gyeonggi Technopark and Singapore’s industries, such as those in electronics, robotics, green tech and biotech.