Korea Venture Capital Association said it will join hands with Samil Accounting Corporation to support promising technology startups.
The association said on the 6th that it signed a strategic memorandum of understanding (MOU) with Samil PwC Unicorn Support Center to run a startup incubation and education program.
The association plans to jointly design and operate capability-building programs for corporations selected for TIPS and Scale-up TIPS by using the accounting expertise held by Samil PwC.
TIPS is a private investment–led program in which, when a private investment firm first discovers and invests in a promising technology startup corporation, the government provides linked support for research and development (R&D) and commercialization funds.
Scale-up TIPS focuses support on investment, R&D, and technology commercialization for promising small and medium venture companies that have moved beyond the early stage and need full-fledged growth.
The two organizations plan to first operate a comprehensive growth program that covers education, mentoring, and investment linkage. They also plan to jointly develop educational content.
Lee June-hee, vice chair of the association, said, "Systematic support across overall management is also important for startup growth," adding, "We will strengthen the cooperation base that connects Samil PwC with the VC industry and startups."
Meanwhile, recruitment for the two organizations' startup growth support program is scheduled to take place in May.