Gyeonggi Creative Economy Innovation Center (hereinafter referred to as ‘Gyeonggi Innovation Center’) was selected as a consortium organization for ‘Seed TIPS’, a private-led preliminary start-up support program hosted by the Ministry of SMEs and Startups.
SeedTips is a pilot project being promoted for the first time this year by the Ministry of SMEs and Startups. Promising technology start-up teams are discovered through private investment companies, and after incubation within 6 months, seed investments are made in excellent companies. The goal is to foster early-stage start-ups through this process and increase the success rate of technology start-ups.
Following the selection of this consortium organization, the Gyeonggi Innovation Center will collaborate with Infobank’s iExcel. We aim to increase the value customized for the entire cycle of promising start-up teams by providing participating companies with ▲co-working space space, ▲customized accelerator, ▲connection with open innovation for global/large/medium-sized companies, ▲support for global expansion, and ▲attraction of investment. In addition, by leveraging our strengths as a TIPS operator, we plan to closely support the company’s scale-up by continuing to recommend and connect with TIPS after the program ends.
Infobank provides startup teams selected for this program with ▲ investment review of up to KRW 100 million or more ▲ startup commercialization funds of up to 50 million KRW ▲ promotion through the ‘eo channel’ and cooperation channels subscribed to by 470,000 people ▲ necessary resources for overall entrepreneurship. Growth program (1:1 expert mentoring, dedicated reviewer assignment, early startup specialized education, patent diagnosis and portfolio construction support, networking, etc.) ▲After the program ends, we plan to provide TIPS linkage to the final selection team.
An official from the Gyeonggi Innovation Center said, “We will provide generous support to promising preliminary and early-stage startup teams to have the ability to attract seed investment,” and added, “We will continue to work to enable a virtuous cycle and revitalization of the startup ecosystem.”
Companies wishing to participate in Seed Tips can apply on the Eo Planet website until the 18th, and the final selection team will be announced on September 23rd after screening documents and interviews.
Meanwhile, the Gyeonggi Innovation Center is a public accelerator that discovers and invests in promising companies, and focuses on investing as an open innovation and TIPS operator with global/large/mid-sized companies targeting innovative startups such as childcare companies. To date, direct investments have been made in a total of 18 companies, including Soinet, Entrepreneur, and iPin Labs. Detailed information can be found on the Gyeonggi Innovation Center website.
Source: Pangyo Techno Valley Official Newsroom
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