Tech Incubator Program for Startup (TIPS): Who Qualifies and What You Get
Learn how high-tech startups can secure R&D funding and matching investments through this private-sector led support program.
The Tech Incubator Program for Startup (TIPS) is a specialized support initiative designed to help high-tech startups grow through a combination of private investment and government funding.
Who it's for
This program is intended for high-tech startups. To qualify, your business must be selected by a private incubator to participate in the scheme.
What you get
Qualified companies can receive up to ₩500 million KRW in funding specifically for research and development (R&D). Along with this R&D funding, the program provides matching investment to help scale your operations.
What it costs you
There is no direct application fee mentioned, but participating requires significant effort. You must first secure a partnership with a private incubator, and you must navigate a highly competitive selection process to be chosen.
The catch to know
The most important thing to understand is that you cannot apply directly to the government for this program. You must be scouted by a TIPS-accredited venture capital firm or incubator to move forward.
How to apply
- Focus on developing a high-tech startup with scalable technology.
- Network within the startup ecosystem to find a TIPS-accredited venture capital firm or incubator.
- Pitch your business to a private partner to be scouted for the program.
- Work through your selected incubator to complete the official selection process.