HiteJinro's Investment Startup 'Coolbears' Selected for TIPS
Highly Rated Growth Potential Leads to TIPS Recommendation
HiteJinro announced on the 3rd that it recommended the startup 'Coolbears,' in which it invested shares last May, to TIPS and was finally selected. TIPS is a startup support program led by the Ministry of SMEs and Startups, and HiteJinro is currently operating as a TIPS operator.
Coolbears developed a technology that applies a functional processing agent made from marine pests such as sea urchins and starfish, which cause desertification of the sea and marine pollution, to textiles. Through this technology, it complemented the discoloration problem of existing recycled fibers and enhanced deodorizing functions. In addition, it launched the eco-friendly fashion brand ‘Aiven’ and is gradually achieving results in the market. Coolbears plans to focus on developing eco-friendly business leisure wear applying porous calcium carbonate based on marine pests, aiming to create social value such as resource circulation and reduction of harmful substances.
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HiteJinro stated that it highly evaluated the growth potential of resource-circulating material development and recommended Coolbears to TIPS. Heo Jae-gyun, Executive Director of HiteJinro’s New Business Development Team, said, “We recommended three startups to TIPS this year and achieved the result of all being selected. We will actively support the growth of promising startups.”
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