Expansion of TIPS Participation by Startups in the Chungcheong Region

'Welcome to TIPS' Chungcheong Region Event Held

The Ministry of SMEs and Startups announced on the 10th that it will hold the 'Welcome to TIPS' Chungcheong region event, providing a meeting place for promising local startups wishing to participate in the TIPS program and investors such as TIPS operators.

TIPS is a system 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 2,700 startups supported have attracted follow-up investments totaling approximately 14 trillion won. Based on these achievements of TIPS, the 'Welcome to TIPS' event was planned to provide an easy access opportunity to the TIPS program for promising local startups and to revitalize the local startup ecosystem network.

The 'Welcome to TIPS' Chungcheong region event will be held on the 11th at ‘Daejeon TIPSTown,’ which was established to focus on supporting Chungcheong region TIPS companies and to expand participation of various startup entities such as local startups, prospective entrepreneurs, and local startup support organizations. During the ‘Startup IR Session,’ eight promising technology startups and companies from the Chungcheong region will conduct IR pitching targeting investors including TIPS operators. Through on-site evaluations by investors, prizes of up to 3 million won will be awarded to outstanding companies. Various networking programs such as mentoring between senior and junior companies will also be provided.

Im Jeong-wook, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, said, “We hope that the Welcome to TIPS event will activate networks among local startup entities and expand opportunities for non-capital region startups to participate in the TIPS program.”