The Ministry of Small and Medium Enterprises and Startups announced on the 8th that it held a 'TIPS Family Day' at L Tower in Yangjaedong, Seoul, attended by over 400 individuals, including companies selected by the TIPS (Tech Innovation Program), supporting organizations, and experts.
TIPS is a representative technological startup support program jointly developed by private investors and the government to discover and foster promising startups.
During the event, the policy direction for TIPS in 2025 and future plans were shared. Following that, the operational direction of the newly selected TIPS leading organizations was introduced, along with a session to share excellent programs of the operating companies.
The event first provided guidance on the key requirements of the new 'TIPS Global Research and Development (R&D) Track' being established in 2025. Additionally, it explained the plan to provide additional commercialization funding based on the operational companies' support and nurturing achievements.
The future direction for supporting TIPS corporations by the newly selected operating organizations was also shared that day. The Korea Venture Capital Association plans to pursue follow-up investment attraction, while the Korea Angel Investment Association intends to continue support focusing on company nurturing and customized programs.
Additionally, a reverse pitching session was held at the event. TIPS operating companies shared their excellent programs to allow for benchmarking. The Ministry of Small and Medium Enterprises and Startups also revealed plans for a 'specialized designation of operating companies' to share globally competitive operating companies and outstanding programs with other TIPS corporations.
Minister Oh Youngju noted, "The success of the TIPS program is thanks to the insight of the operating companies that invested in the potential of startups while taking the risk of failure, and their close support for the invested corporations." She further expressed, "I hope that through sharing the main achievements of the TIPS project and future policy directions, the TIPS program will take a step forward and that the synergy of public-private cooperation will be further strengthened."