Ministry of SMEs and Startups Opens Recruitment for 35 New TIPS Operators... 'Deep Tech Track' Established
[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups is recruiting TIPS (Tech Incubator Program for Startup) operators from investment firms equipped with startup investment and incubation capabilities from the 19th until January 18th next year.
TIPS is a program where operators discover and invest in startups, then recommend them to the Ministry of SMEs and Startups, which conducts a separate selection evaluation and supports technology development (R&D), startup commercialization funds, and more. Since 2013 until the first half of this year, 55% of the 1,750 startups participating in TIPS have succeeded in securing follow-up investments, with the total follow-up investment amount reaching 8.3 trillion KRW.
In particular, starting next year, a new 'Deep Tech Track' will be established to support up to 1.5 billion KRW in R&D funds over three years for startups in the top 10 ultra-gap fields that have attracted investments of 300 million KRW or more. The top 10 ultra-gap fields include system semiconductors, bio-health, future mobility, eco-friendly energy, robotics, big data and artificial intelligence (AI), cybersecurity and networks, aerospace and marine, next-generation nuclear power, and quantum technology.
The existing general track, which supports up to 500 million KRW in R&D funds over two years, will also select and support 600 companies, an increase of 100 from this year.
The Ministry of SMEs and Startups announced that it will recruit about 35 additional operators to match the increased support scale. Extra points will be given during selection to those with investment and incubation capabilities in the startup top 10 ultra-gap fields. Investment firms currently operating as Scale-up TIPS or Seed TIPS operators will also receive additional points. Furthermore, about eight promising investment firms with insufficient investment records but potential will be selected as 'preliminary operators.'
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- Despite Warnings of "Do Not Enter, You May Not Make It Out Alive"... Foreign Tourist Stranded After Unauthorized Climb on Jeju Sanbangsan
- Signed Without Viewing for 1.6 Billion Won... Jamsil and Seongbuk Jeonse Prices Jump 200 Million Won in a Month [Real Estate AtoZ]
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
Investment and incubation specialized companies or institutions wishing to participate as TIPS operators can apply through the TIPS operator application system by 6 p.m. on January 18th next year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
