Home » Selected as ‘Seed Tips’ in 4 places including Infobank and Primer

Selected as ‘Seed Tips’ in 4 places including Infobank and Primer

by archyde

Four companies, including Infobank, Primer, Antler Korea, and SparkLab, were selected as the operators of Seed Tips.

The ‘Team Incubator Program for Seed-funding (TIPS)’ is a program in which a private operator with expertise takes responsibility for and supports the growth of the startup team in the early stages, from the formation of the startup team to attracting seed investment. It supports the pre-stage of the ‘Tech Incubator Program for Startup (TIPS)’, which induces companies to attract follow-up investments by intensively supporting technology development funds and overseas expansion funds for start-ups that have already attracted seed investment.

On the 29th, the Ministry of SMEs and Startups selected 4 operators and 15 startup teams to participate in ‘Seed Tips’, and starting in October, each operator’s placement program (accelerators target early startup teams in a specific incubation space for a certain period of time in market analysis, accounting, and legal affairs) It said that it will operate a program that provides advice on overall management and even executes seed investment).

Earlier, in July, the Ministry of SMEs and Startups publicly recruited operators to participate in ‘Seed Tips’, and finally selected four consortiums (Primer, Antler Korea, Sparklab, and Infobank) who will be responsible for the growth of the startup team and attracting seed investment.

Primer is the first startup accelerator in Korea established by a successful venture company that has listed a number of companies. It has the best childcare capabilities in Korea, including 20 partners from senior entrepreneurs who will pass on various experiences and knowledge to the startup team. Based on the experience of operating a total of 25 placement programs over the past 13 years, it is expected to discover various types of startup teams with potential for success and settle them on a growth trajectory.

Infobank is an early professional accelerator (startup planner) who has experience in discovering promising start-ups such as Com2uS and Astar and leading them to go public. We plan to support the discovery and growth of startup teams and overseas expansion.

Antler Korea is an accelerator that stands for “Ultra-Early Stage VC” specializing in investment in the very early stage. It is a team building that recruits prospective founders with expertise in business and technology as an individual unit and then organizes them into the optimal startup team. The course was included in the batch program. In particular, it plans to cooperate with Singapore-based Antler Innovation, which participated in the consortium, to help startup teams advance overseas and attract follow-up investments.

SparkLab is an accelerator with experience and competency that has operated placement programs for early start-ups for the past 10 years and produced about 200 placement graduates. It has a number of domestic and foreign networks for early startup growth, and holds the ‘Spark Lab Demo Day’ every year to showcase startup teams participating in the placement program to the public and support investment attraction.

The Ministry of SMEs and Startups has also selected a startup team to participate in the first seed tips. Earlier, from September 8 to 16, 19 startup teams to participate in the first seed tips were first recommended by operators, and 15 companies were finally selected on the 28th. Considering that the recommended target is in the early stage with no investment attraction history, the main criteria were the recognition of the problem to be solved, the feasibility of the business model, and the growth strategy and team formation capability.

External experts who can judge the market performance and potential of the startup team, such as senior founders, accelerators, and venture capital judges, evaluated the startup team and secured the expertise in evaluation. The four operators plan to operate a placement program for the first seed tips start-up team from October according to the situation of each company. Primer will be implemented from October 4th, Infobank from the 4th week of October 10th, and Spark Lab from December. Antler Korea, the most advanced among the four, has already started on the 26th for recommended startup teams. The Ministry of SMEs and Startups plans to select 15 additional startup teams after receiving a second recommendation from the operating company in October.

On the other hand, the operator will make a seed investment of 100 million won or more for the first seed tips startup team according to each operator’s own investment standards during or after the placement program is in progress. In this case, the operator is obliged to invest in at least 30% of the participating startup teams by each operator. Shincheon Kang, head of the technology start-up division at the Ministry of SMEs and Startups, said, “Seed Tips, a program that supports the growth of very early start-up teams led by the private sector, took the first step.” We hope that the culture we operate will spread to our startup ecosystem.”

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