Hello,

We are LUMOS, the automated solution for government R&D and business-funding grants!

Today, we will take a detailed look at TIPS-R, a specialized support program designed for re-founders.

The objective of the TIPS-R program is to identify high-potential re-established businesses that have secured private investment, and to support these TIPS-R ventures in achieving global competitiveness.

Applicants must meet several eligibility criteria. Specifically, the applicant must be a re-established business in operation for less than seven years that has secured at least 10 million KRW in investment from registered startup accelerators or similar institutions. Consequently, those who have not yet secured investment or are launching an initial startup are ineligible to apply. In addition, with a total budget of approximately 2 billion KRW supporting only about 20 companies, funds are allocated rapidly. Therefore, we highly recommend that those preparing for TIPS-R submit their applications promptly during the open periods in February or May.

Upon selection, businesses can receive up to 100 million KRW in funding over an eight-month period. While this is a highly advantageous opportunity, there is an important detail to consider. As with most government-funded initiatives, matching funds are required. The government grant covers up to 75% of the total project cost, meaning the participating enterprise must have the financial capacity to cover the remaining 25% share.

We wish the absolute best of success to all entrepreneurs and enterprises embarking on their second journey.

We will return with more valuable and informative content in our next update.

Thank you.