Support Details

Amount of Support
Up to 1 Billion KRW per tech startup for up to three years
Support Details
Angel Investment (100M KRW) + Business Incubation and Mentoring from Successful Angel Investors + R&D Funding (500M KRW) + Additional Financial Assistance (400M KRW; comprising in Startup Funding, 200M KRW in an Angel Matching Funds, 100M KRW in Overseas Marketing Assistance)
Total Budget
Classification Incubation
Period
Initial Funding Technical Development Funding (R&D) Additional Financial
Assistance
Angel
Investment
(Accelerator)
Government
Fund
Private Spending
(out-of-pocket)
Cash In Kind
Tech startup 2-3 Years 100MKRW
(Minimum 20% is
Government
Funding)
Up to 500M KRW Greater Than
50% of The
Private Spending
Required
Amount
100M KRW in
Startup Funding,
200M KRW in
Matching Angel
Funds, 100M KRW
in Overseas Marketing
Assistance
Less Than 80% of
The R&D Fund
Greater Than 20% of
The R&D Fund

Process

1

Tech Startup
Application · Submission

Tech startup
Year-round application
Designated accelerators, chosen by investment sector, will review the business proposals of relevant applicants (sent via email)
2

Investment Appraisal

Accelerator(Partner)
Accelerator will conduct investment appraisal evaluations in order to select potential tech startups in which to invest (1.2 times that of the final teams)
3

Tech Startup
Recommendation &
Referral

Accelerator
Accelerator will sign an investment agreement with the selected tech startups and recommend/refer them to the TIPS supervising agency (up to their maximum allotment of referrals)
4

Assessment of
Recommended/
Referred Startups

Supervising
Agency
Supervising agency will review the overall competencies of the recommended/referred tech startups and their technologies in addition to the accelerator’s investment and support plan
Around 7- 8 tech startups recommended by the accelerators will be subject to a review and assessment by the supervising agency bimonthly
Document review/assessment → change/adjustment of startups business plan → Face-to-face interview/assessment
5

Program
Implementation

Accelerator
(Accelerator) Investment, mentoring, incubating support
Supervising
Agency
(Supervising agency) R&D support
6

Completion and
Follow-Up Investment

Accelerator
Accelerator will provide a follow-on investment (VC), pursue M&A transactions, and investigate Initial Public Offerings (IPOs)
Supervising
Agency
Tech startup will pay back 10% of the government R&D fund as loyalty payments, if the startup is successful