Expansion of TIPS Participation by Regional Startups... Event Held in Daegu and Gyeongbuk Areas

Providing Mentoring and Networking Opportunities for TIPS Senior and Junior Companies
IR Pitching by 8 Promising Tech Startup Companies in the Daegyeong Region

The Ministry of SMEs and Startups announced on the 30th that it will hold the ‘Welcome to TIPS’ Daegu-Gyeongbuk event, providing mentoring and networking opportunities between senior and junior TIPS companies, at the Daegu Scale-up Hub on the 31st.

'Welcome to TIPS' held in Daejeon in 2020 [Photo provided by the Ministry of SMEs and Startups]

TIPS is a system where operators selected by the Ministry of SMEs and Startups utilize private sector expertise and capabilities to select startup companies, and the government supports them by linking research and development (R&D) and startup commercialization funds. More than 2,800 startups that have received support so far have attracted follow-up investments totaling approximately 14 trillion won.

This year, a new ‘Global TIPS’ program has been established to expand the TIPS model globally, and support for promising startups’ overseas expansion will also be strengthened.

Based on these TIPS achievements, the Welcome to TIPS event was planned to provide promising local startups with easy access to the TIPS program and to activate the local startup ecosystem network. In June, the event was held in the Southeast region, in August in the Honam region, and last month in the Chungcheong region.

The Daegu-Gyeongbuk event is composed of two parts. The first part is a ‘Startup Company Presentation (IR) Session,’ where eight promising technology startup companies from the Daegu-Gyeongbuk region will pitch to investors including TIPS operators to promote entry into the TIPS program. Based on on-site evaluations by participating investors, outstanding companies will be awarded prizes of up to 3 million won. The second part of the event offers various networking programs such as investor reverse IR and mentoring between senior and junior companies.

Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, said, “Through this Daegu-Gyeongbuk Welcome to TIPS event, promising local startups will be encouraged to participate in the TIPS program based on networking with TIPS operators, and TIPS operators will have the opportunity to meet promising local startups. We hope that the Welcome to TIPS events held by region will activate networks among local startup stakeholders and expand opportunities for non-capital area startups to participate in the TIPS program.”

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