South Korea’s Technology Incubator Program for Startups, known as TIPS or 팁스, can provide technology companies with combined support worth up to ₩1 billion, approximately US$670,000.
However, TIPS is not a conventional government grant. Startups cannot apply directly for the complete package.
The process begins with a private investor.
How TIPS works
A startup must approach one of the accelerators or venture investors authorised as a TIPS operator.
The operator evaluates the company’s technology, founders and commercial potential. If it decides to invest, it can recommend the startup to the government programme.
The government then conducts a separate assessment. An operator’s investment therefore opens the door to TIPS, but does not guarantee selection.
Accepted companies may receive a combination of:
Approximately ₩100 million in initial private investment.
Up to ₩500 million in government R&D funding.
Commercialisation support.
Angel investment matching.
Overseas marketing assistance.
Mentoring and incubation.
The complete package can reach ₩1 billion over a period of up to three years, although the exact amount depends on the company and the support approved.
Which startups can participate?
TIPS generally supports technology startups established within the previous seven years. Companies in designated new-industry sectors may qualify for up to ten years after incorporation.
The programme is primarily relevant to Korean companies. Overseas founders would normally need an eligible Korean entity and an appropriate local operator.
Finding the right operator is critical. Investors specialise in different sectors, so a robotics company, biotechnology venture and software startup may need to approach different organisations.
Founders should present technical evidence, a clear business model and a realistic plan for turning the technology into revenue.
Why Korea uses investors as gatekeepers
TIPS asks private investors to make the first decision and commit their own capital.
The investor assesses the team, market and commercial risk. The government determines whether public R&D funding can accelerate the underlying technology.
This structure is intended to prevent public money from supporting projects with no credible route to market. It also gives the operator a financial reason to continue helping the startup after selection.
What founders should check
The headline figure of ₩1 billion is not a single payment. It combines private investment and several forms of public support, each with separate conditions.
Founders must examine the valuation, equity percentage and governance rights proposed by the operator. Access to TIPS does not automatically make the private investment terms favourable.
Companies may also need to contribute part of the R&D project cost. Successful startups can be required to repay 10% of the government R&D funding as a royalty payment.
How to apply
The practical first step is identifying an approved operator whose investment strategy matches the startup’s technology.
Companies can review operators through the official TIPS platform and submit their business proposals directly.
Applications and selection activity are expected to continue through October 2026, although each operator has its own timetable and limited recommendation capacity.
Potential combined support: Up to ₩1 billion
Eligibility: Technology startups generally established within seven years
Entry route: Investment and recommendation from an approved TIPS operator
Important: Private investment does not guarantee government approval
SAKIME
SAKIME tracks East Asian technology companies, startup funding and opportunities connecting founders, investors and commercial partners.
This article is provided for informational purposes and does not constitute investment advice or a guarantee of funding.
Author — Adrià Mas Rodríguez