Recruitment of Promising Startups for FreeTips Participation
Preference for Selecting Startup Companies Located Outside the Capital Region
[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) announced on the 28th that it is recruiting 30 early-stage startup companies wishing to participate in the '2022 Pre-TIPS' program.
Pre-TIPS is a project introduced in 2018 to discover and support excellent early-stage startups located outside the metropolitan area. It targets promising technology startups within three years of establishment that have attracted investments of 10 million KRW or more. More than 60% of the total support scale is allocated to startups located outside the metropolitan area, and selected companies receive up to 100 million KRW in startup commercialization funds. Especially from this year, the linkage has been strengthened so that capable startups participating in Pre-TIPS can smoothly enter 'TIPS'.
First, the scope of 'investment funds attracted from operators,' which is a prerequisite for startups to participate in TIPS, has been expanded to include investment funds attracted at the time of participating in Pre-TIPS. In addition, for Pre-TIPS participating companies located outside the metropolitan area, the matching rate of TIPS research and development (R&D) contributions for operator investment amounts has been increased to encourage operators to recommend non-metropolitan Pre-TIPS participating companies. Furthermore, to activate participation of excellent local startups in Pre-TIPS, explanatory sessions and networking events such as 'Welcome to TIPS' and 'TIPS Salon' will be expanded.
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Kang Shin-cheon, Director of the Technology Startup Division at the Ministry, said, "Pre-TIPS is a great opportunity for capable early-stage startups outside the metropolitan area to grow," adding, "We hope that many startups will achieve rapid growth by utilizing the growth ladder connecting Pre-TIPS, TIPS, and Post-TIPS."
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