DOUZONE announced on the 25th that it will return its startup planner (accelerator, AC) license and will only serve as an operator of the TIPS (Technology Business Incubation Program) operated by the Ministry of SMEs and Startups.
DOUZONE has focused on finding and nurturing startups that can create synergy as an operator of TIPS and plans to return its startup planner (AC) qualification due to amendments to the Act on the Promotion of Venture Investment.
This follows a warning issued to DOUZONE by the Ministry of SMEs and Startups during a regular inspection in September of last year for violating the 'management control purpose' under the Venture Investment Act, which mandated corrective measures by the 27th of the following month.
The violation committed by DOUZONE pertains to Article 15 of the Enforcement Rules of the Venture Investment Act regarding 'restrictions on the actions of startup planners.' According to this, ACs cannot own subsidiaries for the purpose of management control. The determining factor for management control is whether 'more than 50% equity is owned.' The timing of the acquisition of the subsidiary is also significant. The regulations apply to subsidiaries that were acquired after obtaining the AC license.
The issue arose when DOUZONE acquired 74.28% equity in the Electronic Times in October 2023, after obtaining the AC license in 2018 and incorporating it as a subsidiary.
A representative from DOUZONE said, "We will continue to play the role of TIPS operator, supporting investment and nurturing startups that can create synergy with our core business areas."