The Korea Trade Investment Promotion Agency and U.S. software giant Microsoft have agreed to help local venture start-ups expand overseas.

Combining the state-run agency’s global presence and Microsoft’s technical supremacy, the “KOTRA-MS Smart Growth Project” aims to help Korean software developers go global with new services.

A total of 20 venture firms are to be selected among those whose services can be combined with cloud computing, KOTRA said.

With an aim to commercialize their services within six months, participating companies will be offered training programs from Microsoft such as technical mentoring, consulting and platform technologies worth up to 200 million won ($175,000).

KOTRA will support their investment relations and overseas marketing activities. Five firms developing mobile apps will enjoy additional support from the Korea Productivity Center as well.

Some selected finalists also will be allowed to enter KOTRA’s IT center at Silicon Valley in California so that they can have more networking opportunities with other global businesses as well as Microsoft.

“The project is meaningful in terms of our corporate social responsibility activities as well as nurturing new business partners in the cloud software service,” said an official from Microsoft Korea.

“We hope local venture firms strengthen their competitiveness in the global market, prompting such an aggressive venture spirit to spread to other sectors,” a KOTRA official said.

By Lee Ji-yoon (jylee@heraldcorp.com)