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We are LUMOS, your automated solution for government R&D grant management.

Today, we will take a closer look at Deep Tech TIPS, a specialized track within the Tech Incubator Program for Startups (TIPS).

Standard TIPS is widely recognized as a government-backed program providing up to 500 million KRW in R&D funding, plus an additional 200 million KRW for commercialization and overseas marketing. However, there is also the Deep Tech TIPS program. While similar to the standard track, Deep Tech TIPS offers significantly larger support, providing up to 1.5 billion KRW. As of 2023, the Deep Tech TIPS program had a total budget of 31.5 billion KRW, a project duration of 36 months, and selected approximately 120 projects.

Due to the substantial scale of support, the requirements and competition are much more demanding than standard TIPS. For Deep Tech TIPS, an officially designated accelerator must select a startup within one of the "Top 10 National Super-Gap Technologies," invest at least 300 million KRW, and recommend them. The government then matches this with up to 1.5 billion KRW in R&D funding. The eligible technology fields are listed below.

Consequently, establishing clear technological differentiation is crucial to securing selection for Deep Tech TIPS. Additionally, attracting a minimum investment of 300 million KRW from a TIPS accelerator—which must represent at least 20% of the total R&D budget—presents a minor barrier to entry for early-stage startups.

Nevertheless, Deep Tech TIPS remains an exceptional growth opportunity for startups. Along with up to 1.5 billion KRW in R&D funding, selected companies can apply for linked non-R&D programs, securing up to 100 million KRW each for commercialization and overseas marketing. Furthermore, companies can reside in the accelerator's designated incubator and benefit from structured growth programs, including corporate mentoring and business development support.

For more detailed information, please refer to the sections below.

Program Details

• Project Duration: Up to 4 years

• Accelerator Investment: 300 million KRW or more (representing at least 20% of the government-funded R&D grant)

• Government R&D Grant: Up to 1.5 billion KRW (within 80% of total R&D expenses)

• Matching Contribution: At least 20% of total R&D expenses (with cash accounting for over 10% of the matching portion)

• Linked Support:

  • (Commercialization) Differential funding up to 100 million KRW (matching requirement: 30% or more, consisting of at least 10% cash and up to 20% in-kind)

  • (Overseas Marketing) Differential funding up to 100 million KRW (matching requirement: 30% or more, consisting of at least 10% cash and up to 20% in-kind)

Eligibility

• Under the Support for Small and Medium Enterprise Startups Act, eligible businesses include start-ups within 7 years of their launch date (or 10 years for specific startups under Article 25 of the Act) that simultaneously meet the following requirements:

• Startups recommended by a TIPS accelerator after securing an investment of 300 million KRW or more (must consist of a team of 2 or more individuals).

• The startup team must maintain at least 60% of the total shares, while the accelerator's share remains at 30% or less.

• Previous year's annual sales must be under 2 billion KRW. *Note: If annual sales related to the proposed business item exceed the success threshold (1.5 billion KRW), the company may be excluded from evaluation.

Application Process

• Application Submission

  • Eligible Applicants: Startups (within 10 years of operation) selected for Deep Tech TIPS (R&D) that have finalized their funding agreements.

  • Application Period: Announded separately to participating Deep Tech TIPS (R&D) companies.

  • How to Apply: Apply online via the K-Startup site (www.k-startup.go.kr).

• Eligibility Review

  • Review of basic eligibility requirements, exclusion criteria, and supporting documentation.

• Presentation Evaluation

  • A comprehensive assessment of profitability, growth potential, and global expansion strategy (required for overseas marketing) based on the startup representative's presentation and Q&A session with the evaluation committee.

  • Final Score = Presentation Score (100 points) + Bonus Points (Up to 1 point for commercialization, up to 3 points for overseas marketing).

• Final Selection

  • Final determination of grant allocation by the managing institution (Korea Institute of Startup and Entrepreneurship Development) based on committee evaluation and budget plans.

• Agreement Signing

  • Signing of a tripartite agreement (Startup - Managing Institution - Operating Institution) followed by the distribution of differential funding for commercialization and overseas marketing (Up to 100 million KRW, for a duration of 10 months).

Contact Information

• Deep Tech TIPS

  • Managing Institution: Korea Technology and Information Promotion Agency for SMEs (TIPA), Private Investment Cooperation Division / +82-2-2280-0421 ~ 0423

That concludes our overview of the Deep Tech TIPS program.

While Deep Tech TIPS is highly competitive and demanding to secure, it represents a transformative opportunity for enterprise growth. We strongly encourage innovative startups to apply.

We will return with more informative content. Thank you.