The Korea Venture Capital Association (KVCA) signed a strategic memorandum of understanding (MOU) with Samil PwC on Tuesday to operate startup incubation and education programs, the association said. The signing ceremony was attended by key officials from both sides, including KVCA Executive Vice Chairman Lee Jun-hee and Samil PwC Unicorn Support Center Head Lee Do-shin.
The agreement was established to jointly design and operate capacity-building programs for companies selected under the TIPS and Scale-up TIPS initiatives to support their sustainable growth. TIPS is a private investment-led program in which private investment firms first identify and invest in promising technology startups, after which the government provides linked support for research and development (R&D) and commercialization funds. Scale-up TIPS provides concentrated support in investment, R&D, and technology commercialization for promising small and medium-sized venture companies that have moved beyond the early stage and require full-fledged growth.
Through the agreement, the two organizations plan to operate close-support programs covering the entire startup growth cycle for companies selected under TIPS and Scale-up TIPS, including identifying and screening promising companies, providing specialized management advisory and mentoring, hosting networking events, and linking investment opportunities. In particular, they plan to provide practical solutions needed in the field through jointly developed educational content and seminars.
The agreement is significant in that it combines the KVCA's broad venture capital network with Samil PwC's professional advisory capabilities to strengthen the growth foundation of promising companies. Samil PwC plans to advance the initiative into a support model applicable to more startups based on data and insights accumulated through program operations.
Meanwhile, recruitment for the education program jointly operated by the two organizations is scheduled to take place in May. Details will be announced on the KVCA website.
