Ministry of SMEs and Startups Hosts 'Welcome to TIPS' to Expand Local Startup Participation in TIPS

Corporate IR Pitching, Expert Sessions, etc. Held
Starting in Yeongnam Region, Sequentially Held in Honam, Chungcheong, and Daegyeong Regions

The Ministry of SMEs and Startups announced on the 27th that it will hold the 'Welcome to TIPS' Yeongnam region event, providing a meeting place for promising local startups wishing to participate in the TIPS program and investors such as TIPS operators, as well as offering mentoring and networking opportunities between senior and junior TIPS companies.

TIPS is a program where operators selected by the Ministry of SMEs and Startups utilize private expertise and capabilities to select startup companies, and the government supports them by linking technology development (R&D) and startup commercialization funds. So far, more than 2,800 startups supported by the program have attracted follow-up investments totaling about 13 trillion KRW, making it a flagship startup support project of the Ministry.

Recently, TIPS was selected as one of the top 4 global accelerators by CB Insights, a certified American data analysis and research institution, and the TIPS program is recognized overseas as an excellent program. This year, through the establishment of ‘Global TIPS’ to expand the successful TIPS model globally, plans are underway to strengthen support for promising startups’ overseas expansion.

This 'Welcome to TIPS' Yeongnam region event will be held in conjunction with the famous local startup forum ‘Busan Dandi Venture Forum’ to expand participation from various startup entities such as local startups, prospective entrepreneurs, and regional startup support organizations.

The 'Welcome to TIPS' Yeongnam event consists of two parts. Part 1 is a ‘Startup IR Session’ where 11 promising technology startups and companies from the Yeongnam region will pitch to investors including TIPS operators to promote entry into the TIPS program. Outstanding companies will be awarded prizes of up to 3 million KRW based on on-site evaluations by participating investors. Part 2 will offer various networking programs such as participant self-introductions, investor reverse IR, and mentoring between senior and junior companies.

The Ministry of SMEs and Startups plans to hold the 'Welcome to TIPS' events sequentially in the Honam, Chungcheong, and Daegyeong regions, starting with the Yeongnam region, and by the end of the year, a unified final round will be held in the metropolitan area targeting promising startups selected as outstanding companies from each region.

Lim Jeong-wook, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, stated, “Through this 'Welcome to TIPS' event, promising local startups will have the opportunity to network with TIPS operators, promoting their participation in the TIPS program, and TIPS operators will have the chance to meet promising local startups.”