"200 Million Won Support for Small Business Owners Discovered by Private Sector"… Ministry of SMEs and Startups Implements LIPS II
If a Private Investment Firm Invests,
the Ministry of SMEs and Startups Will Provide Support
Total Project Size: 30 Billion KRW
The Ministry of SMEs and Startups (MSS) will help small business owners discovered through private sector capabilities grow into lycons.
On the 13th, MSS announced that it will officially launch the 'Innovative Small Business Investment Linkage Support (LIPSⅡ)' project, worth a total of 30 billion KRW.
The Investment Linkage Support project is a program where private investors designated by MSS make advance investments in capable small business owners, and MSS matches up to three times the investment amount (up to 200 million KRW) as commercialization funds. Small business owners who received 'Private Investment-Linked Matching Loans (LIPSⅠ)' can also receive commercialization funds through the Investment Linkage Support project.
Small business owners who wish to participate in the project propose investments to operators designated by MSS, and upon investment review and deliberation by the operators, they become eligible to apply for the Investment Linkage Support project.
Afterwards, small business owners can apply for the project through the Small Business 24 website, and after eligibility review and document and presentation evaluations, final selections are made and commercialization funds are provided. Selected small business owners can receive specialized programs such as investment IR pitching, investor networking and consulting operated by the Small Enterprise and Market Service and the Korea Early-stage Investment Accelerator Association, participation in domestic and international exhibitions, and expert mentoring in areas such as tax, law, and patents.
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Lee Dae-geon, Director of Small Business Policy at MSS, said, "By supporting creative and new forms of hybrid finance where private and government funds are matched for small business owners, and linking private sector discovery and nurturing capabilities for growth, small business owners will become a new growth engine for Korea beyond just small and medium enterprises."
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