"How to Get Selected for TIPS"… New Paradigm Holds Workshop to Share Know-How

[Asia Economy Reporter Kim Bo-kyung] Startup accelerator New Paradigm Investment (hereinafter New Paradigm) held a TIPS preparation workshop on the 12th with nine companies scheduled to be recommended for next year's TIPS (Tech Incubator Program for Startup) selection.

The workshop, held at TIPS Town S6 in Yeoksam-dong, Seoul, shared methods for participating in the TIPS program, including TIPS selection and recommendation criteria, business plan writing, and application preparation. It also provided a networking opportunity to pass on the know-how and experiences of senior companies that succeeded in being selected for TIPS.

The Ministry of SMEs and Startups plans to invest 378.2 billion KRW (selecting 720 teams) in next year's budget for TIPS, a public-private cooperative startup support program. This represents a significant expansion compared to this year (293.5 billion KRW, 500 teams). New Paradigm is one of the approximately 80 TIPS operators selected by the Ministry.

Park Je-hyun, co-CEO of New Paradigm, explained, "TIPS is a meaningful indicator that can create a stepping stone to demonstrate the growth potential of startups to both founders and investors."

He added, "We select 15 early-stage startups with clear growth indicators annually through New Paradigm's 'Baby Unicorn Nurturing Program' and provide early-stage investment linked with TIPS, followed by subsequent and connected investments based on performance."

Meanwhile, New Paradigm aims to establish itself as a 'house of baby unicorns' through co-growth with startups and is recruiting companies to participate in next year's Baby Unicorn Nurturing Program until the end of November.

This content was produced with the assistance of AI translation services.