SamilPwC said on the 6th that it signed a strategic memorandum of understanding (MOU) with the Korea Venture Capital Association for operating a capabilities enhancement education program for corporations selected for TIPS and Scale-up TIPS.
The signing ceremony was held at 11 a.m. on the 6th at the VC Association in Seocho-gu, Seoul, with Lee June-hee, executive vice president of the VC Association, Lee Do-shin, head of the Unicorn Support Center at SamilPwC, and Partner Hong Seung-hwan in attendance.
This agreement was prepared to jointly plan and operate an education program to strengthen the growth capabilities of corporations selected for TIPS and Scale-up TIPS and support sustainable growth.
TIPS is a private investment-led program in which, when a private investment firm first discovers and invests in a promising technology startup, the government provides linked support for research and development (R&D) and commercialization funds. Scale-up TIPS is a program that focuses on investment, R&D, and technology commercialization for promising small and medium venture corporations that have moved beyond the initial stage and need full-fledged growth.
Through this agreement, the two institutions plan to jointly operate a support program covering the entire growth process for corporations selected for TIPS and Scale-up TIPS, from discovery and screening to specialized mentoring, management consulting, networking, and investment linkage. They also plan to support participating corporations' capability enhancement by developing education content and operating seminars.
This agreement is meaningful in that it combines the VC Association's venture capital network with SamilPwC's advisory capabilities to strengthen the growth foundation of promising corporations. SamilPwC plans to expand it into a support model applicable to more startups in the future based on the data and insights accumulated during program operation.
Lee June-hee, executive vice president of the VC Association, said, "For promising startups to grow to the scale-up stage, systematic support for overall management beyond simple investment is important," and added, "Through cooperation with SamilPwC, we will strengthen the cooperation base that connects the VC industry and startups."
Lee Do-shin, head of the Unicorn Support Center at SamilPwC, said, "Through this agreement, we aim to lay the groundwork for promising startups at the scale-up stage to make another leap forward based on more systematic mentoring and investment linkage," and added, "By combining the VC Association's broad venture capital network with SamilPwC's professional capabilities, we will create a cooperation model that leads to tangible results."
Meanwhile, recruitment for the education program is scheduled to take place in May, and details will be available later on the VC Association website.