Two Startups Incubated by HITEJINRO to Receive Government R&D Funding
Selected for the Government's 'TIPS' Technology Startup Support Program
Cool Bears and Vision Bridge Partners Secure Up to 2.3 Billion Won
Direct and Follow-On Investments… “We Will Actively Seek Out and Support Innovative Companies”
[Edaily Reporter Kim Ji-woo ] Two startups invested in and nurtured by HITEJINRO(000080)have been selected for the government’s technology startup support program and will receive up to 2.3 billion won in research and development (R&D) funding. They plan to pursue technological advancement and business expansion in the fields of eco-friendly materials and K-pop fandom platforms, respectively.
Logos of “Cool Bears” and “Vision Bridge Partners.” (Photo courtesy of HITEJINRO) HITEJINRO announced on the 29th that “Cool Bears” and “Vision Bridge Partners”—companies it invested in and recommended—have been finally selected for the Ministry of SMEs and Startups’ 2026 TIPS (Technology Incubation Program for Startups) program.
TIPS is a program in which the government provides support, such as R&D funding, when private investment firms identify, invest in, and nurture technology-driven startups. Since being selected as a TIPS operator in 2022—the first general corporation to do so—HITEJINRO has continued to invest in promising startups and connect them with government support programs.
Cool Bears, a technology company specializing in eco-friendly textile materials, was selected for the TIPS Deep Tech Track last April. This achievement follows its selection for the General Track in August 2023, which came at the recommendation of HITEJINRO. Over the next 36 months, the company will receive up to 1.5 billion won in funding to develop eco-friendly, vegan filling materials made from upcycled starfish and seashells and to advance the commercialization of this technology.
Vision Bridge Partners, which operates “Higher,” a global fandom platform based on K-pop intellectual property (IP), was selected for the General Track last June. With up to 800 million won in R&D funding over the next 24 months, the company plans to advance its artificial intelligence (AI) technology and expand its business scope to include digital collections, physical merchandise, and global commerce.
HITEJINRO is pursuing direct investments, follow-on investments, and connections to government support programs for startups in the lifestyle sector. The company plans to continue identifying and supporting companies with high growth potential.
A HITEJINRO official stated, “It is highly significant that the startups we have consistently identified and supported have been selected for the TIPS program side by side,” adding, “We will continue to actively seek out innovative companies capable of bringing change across the entire lifestyle sector and provide ongoing investment and support to ensure their sustained growth.”
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