GS Retail Invested Wonderwicks Company Selected as Finalist for 'TIPS Project'

Continuous Discovery and Investment in Promising Early-Stage Startups

[Asia Economy Reporter Lim Chun-han] GS Retail announced on the 28th that Wonderweeks Company, a startup directly discovered and invested in by GS Retail this year, has been finally selected for the ‘TIPS program’.

TIPS is a private investment-led technology startup support program run by the Ministry of SMEs and Startups to support and intensively nurture startups with excellent technological capabilities. The Ministry designates TIPS operators, which are private venture incubation organizations equipped with investment resources and various support capabilities. These designated operators discover and invest in promising early-stage startups and then recommend them to the Ministry. After screening, the Ministry provides support such as research and development (R&D) and operational funds.

GS Retail was selected as the first large corporation to become a TIPS operator this year. Subsequently, GS Retail recommended Wonderweeks Company as the first startup to TIPS, achieving the result of its final selection. Wonderweeks Company is a startup that organizes fragmented information in the childcare consumer market and provides reliable information to consumers through objective data. It currently operates the MamMam and Lookids platforms, which provide information on childcare products and kids’ fashion.

A GS Retail official said, “It is meaningful for both companies that Wonderweeks Company, the first startup recommended after being designated as the first corporate TIPS operator in Korea, was finally selected,” and added, “We plan to continue discovering and investing in promising early-stage startups and strive for mutual growth with startups.”