The TIPS program is a startup development program in which the government supports about 500 million won in R&D costs over two years with private investors by discovering promising startups with excellent technologies.

SparkLab has produced a total of 39 Tips selected companies over the past seven years since it was selected as a Tips operator in 2015. Eleven companies were finally selected for Tips last year alone, and a total of nine startups were selected by July this year, including ▲ Brighton Corporation ▲ Witty ▲ WiOEL ▲ Metapas ▲ Logstack ▲ OMears ▲ Deep Pine ▲ Grocerfit ▲ Movie.

SparkLab is also selected as a private operator of “Seed Tips,” a new private-led preliminary start-up support program promoted by the Ministry of SMEs and Startups this year, and selects a start-up team with no history of attracting investment to support the growth of early-stage startups from team formation to attracting seed investment.

Kim Yu-jin, co-CEO of SparkLab, said, “We will provide active support for early startups with innovative technologies and passion to scale up,” adding, “We will continue to work with the Ministry of SMEs and Startups to revitalize the startup ecosystem in Korea.”