Government-Funded Projects

Post-TIPS: Securing an Additional 500 Million Won After TIPS

Nov 10, 2023

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

Today, we will take a detailed look at Post-TIPS, a support program for businesses that have successfully completed the standard TIPS program.

As previously covered, the TIPS roadmap includes Seed TIPS, Pre-TIPS, and standard TIPS. To provide specialized support for later-stage growth, the Ministry of SMEs and Startups also offers the Post-TIPS program. This initiative targets outstanding startups successfully graduating from the standard TIPS program, fostering their transition into global enterprises through dedicated scale-up assistance. Approved companies that receive a "Successful" rating on their final TIPS evaluation are eligible for up to 500 million KRW in follow-on commercialization funding over a period of 18 months.

Eligibility Criteria

Applicants must meet both of the following basic criteria under Article 2 of the Support for Small and Medium Enterprise Startups Act: ① Be a startup (less than 7 years established as of the public announcement date), ② Have cumulative follow-on investment under 10 billion KRW *, and satisfy either Condition ① or Condition ② below.

* The age of the company is determined starting from the date of incorporation on the corporate register.

** Cumulative follow-on investment refers to the sum of domestic and international investment secured after selection for the TIPS program.

Condition ①: A TIPS graduate company that met the follow-on investment target under the TIPS R&D program and received a final "Successful" evaluation. * The follow-on investment secured after TIPS selection must meet or exceed the average investment amount in the domestic VC industry for the last three years.
Condition ②: A company that received a final "Successful" evaluation by meeting performance goals other than follow-on investment, but secured at least 1 billion KRW in private follow-on investment. * Only investment secured after the official TIPS agreement date is eligible.

Program Details

Commercialization Funding: Government grant of up to 500 million KRW
Government grants are allocated proportionally based on the evaluation outcome. The project period is 18 months from the agreement date.
Total Budget Structure (100%): Government funding (up to 70%) + Company matching funds (at least 30%)

Application Window

For the 2023 cycle, Post-TIPS applications are processed in two separate phases. Please note that if funding is depleted early, the second phase will not open.

(Phase 1) Feb 27, 2023 (Mon) – Mar 24, 2023 (Fri), by 18:00 KST
(Phase 2) Jun 1, 2023 (Wed) – Jun 29, 2023 (Thu), by 18:00 KST

How to Apply

Submit online via the K-Startup official website (www.k-startup.go.kr)
Submit the business plan and all required supporting documents through the online Project Management System (PMS)

Evaluation Process

A two-stage assessment consisting of a document eligibility review followed by an oral presentation, operated on an elimination basis.
All evaluations are conducted by a panel of qualified specialists selected in accordance with Article 11 of the Comprehensive Guidelines for Startup Commercialization Support Program.