"Government Takes Responsibility for Connecting Entrepreneurs and Investors": Launching the Challenge IR Project

[Financial News] The government will hold over 300 in-person investor relations (IR) events this year to connect early-stage founders with investors.
According to the Ministry of SMEs and Startups on the 11th, the 'Challenge IR Project' will be launched starting on the 16th. This project is designed to connect entrepreneurs who possess excellent technology and ideas but have been unable to secure investment opportunities due to a lack of investment networks and information with investment firms that have the capacity to invest.
The Tech Incubator Program for Startup Korea (TIPS) is participating in the project through 142 operating companies. Technology entrepreneurs with a concrete business plan who have no history of attracting investment from institutional investors are eligible to apply. Both prospective entrepreneurs and startup representatives can participate.
The project will be conducted in various ways, including IR by operator, IR linked to the 'Everyone's Startup Project', and IR by region and sector.
First, TIPS operators will hold two IR events in October and November that they have planned themselves, including one-on-one meetings and public pitching. Founders can submit investment proposals to participate in the October program through the 'Challenge IR Platform' starting at 9 a.m. on the 15th of this month.
Founders may submit investment proposals to only one operator per round. Applications for the program close once the limit set by the operator is reached. The operator reviews the investment proposals, selects the founders to participate in the in-person IR, and notifies them of the results by seven days prior to the IR session.
IR sessions will also be conducted in conjunction with the 'Everyone's Startup Project'. IR opportunities will be provided to 500 entrepreneurial talents who advanced to the second round of the general and technology tracks in the first 'Everyone's Startup Project'. These individuals will be recommended by incubation agencies and connected with TIPS operators suitable for their ideas to engage in investment attraction activities.
Investment connections by region and sector will also be expanded. 'Welcome to TIPS,' linked to regional startup festivals, will be expanded from the existing five major regions to include three special regions: Jeonbuk, Gangwon, and Jeju. 'Startup City IR' events will be held in Daegu, Daejeon, Gwangju, and Ulsan in collaboration with the four major science and technology institutes, and support will be provided for meetings between faculty and student entrepreneurs and TIPS operators.
Sector-specific IRs targeting outstanding companies from the inter-ministerial startup competition 'K-Startup of the Year' will be conducted, along with IRs linked to support programs by ministries in sectors such as defense, media, marine, and R&D.
The Ministry of SMEs and Startups plans to continue additional investment consultations and in-depth IR sessions for outstanding companies until the end of the year, even after the IR event. Companies that successfully attract investment will be provided with preferential benefits, such as bonus points in the TIPS program selection evaluation.
Based on this year's business performance and feedback from the field, the Ministry of SMEs and Startups is also considering ways to develop the Challenge IR Project into a permanent investment attraction support system.
No Yongseok, First Vice Minister of the Ministry of SMEs and Startups, stated, "There are cases where individuals fail to cross the first hurdle of attracting investment despite possessing excellent technology and ideas," adding, "We will lower this initial threshold so that entrepreneurs with potential do not stop pursuing their dreams due to a lack of access to investors."

[email protected] Kim Hyun-chul Reporter