Ministry of SMEs selects 4 operators for 'Scale-up TIPS' to discover promising small and venture businesses
[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 25th that it has selected four additional operators for the Scale-up TIPS program, which discovers and invests in promising small and medium-sized ventures.
Scale-up TIPS is a program where operators, consisting of consortia of private investment firms and research and development specialized companies, discover promising small and medium ventures and make initial investments, after which the government provides follow-up support.
Previously, the Ministry of SMEs and Startups selected 10 operators in two rounds in November last year and August this year. With the addition of four companies in this third round, the total number has expanded to 14.
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Minister Lee Young of the Ministry of SMEs and Startups said, “The newly selected operators include many venture capital (VC) firms specialized in materials, parts, and equipment (SoBuJang) and regional investments,” adding, “We expect them to provide investment opportunities to foundational companies facing difficulties due to the contraction of the investment market.”
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