The startup investment ecosystem, which had been concentrated in the metropolitan area, is now spreading to the regions. Regional startup corporations are expected to lay a foundation for their leap forward.
The Ministry of SMEs and Startups announced on the 28th that it held the 'Welcome to TIPS' event at the Busan Workation Base Center, providing a venue for regional startup corporations to meet with TIPS operating companies.
This event was planned to spread investment opportunities concentrated in the metropolitan area to the regions and provide a new growth foundation for southeastern startup corporations.
TIPS is a 'public-private partnership startup support program' in which private operating companies select startup corporations for investment, and the government provides support for research and development (R&D) and commercialization funds. To date, over 3,700 corporations have participated and secured more than 17 trillion won in follow-up investments, establishing itself as a leading startup program in the country.
About 100 companies, including southeastern startup corporations and operating companies wishing to participate in TIPS, gathered at the event. Eight promising startup corporations were selected through preliminary screening and held investment presentations for the operating companies. Corporations recognized as outstanding in on-site evaluations received cash prizes. They will hold another investment presentation in front of national investors at the integrated finals stage at the end of the year.
The Ministry of SMEs and Startups designated 10 new 'specialized operating companies' by sector as a result of this event, focusing on areas such as regional, global, co-prosperity, and climate tech. These operating companies will concentrate support on startup corporations in their respective fields and receive benefits such as priority recommendation rights. Thus, the TIPS ecosystem, which had been centered around the metropolitan area, is expanding to non-metropolitan areas.
Vice Minister Noh Yong-seok said, 'Today's event is a vigorous first step for startup corporations to begin their growth journey,' and noted that events for 'Welcome to TIPS' will be held successively by region, starting with the southeast, to spread the enthusiasm for startups nationwide.