SMEs Ministry Holds 'Honam Region Welcome to TIPS' Event... "Spreading Startup Spirit in the Regions"

The Ministry of SMEs and Startups announced on November 4 that it held the 'Honam Region Welcome to TIPS' event at the Bitgoeul Startup Station in Gwangju.

TIPS is a public-private partnership startup support system in which private operators use their expertise and capabilities to select and invest in startups, while the government provides linked support such as research and development (R&D) and startup commercialization funds. To date, more than 3,700 startups have participated, attracting over 17 trillion won in follow-up investments, establishing itself as a leading startup support program.

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This event was organized to expand investment opportunities, which are currently concentrated in the Seoul metropolitan area, to the regions, with over 100 promising technology startups from the Honam region and TIPS operating companies participating.

On this day, promising startups from the Honam region held investment presentations for TIPS operating companies, and outstanding companies selected through on-site evaluations were awarded prizes. The selected outstanding companies will join those chosen from the Southeast, Chungcheong, and Daegyeong regions to compete in the integrated finals at the end of the year, where they will once again present their investment pitches in front of investors from across the country.

The event also featured various networking programs, including presentations by TIPS operating companies on their main investment sectors and strategies, networking sessions between startups seeking to join TIPS and the operating companies for investment attraction, and mentoring by previous TIPS companies.

Cho Kyungwon, Director of Startup Policy at the Ministry of SMEs and Startups, said, "I hope today's meeting with TIPS operating companies will serve as a stepping stone for Honam region startups to achieve greater growth," adding, "We will continue to spread the entrepreneurial spirit in the regions through programs like Welcome to TIPS in each area."

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