HiteJinro-backed startups selected for South Korean TIPS program

Two startups invested in and nurtured by HiteJinro, Cool Bears and Vision Bridge Partners, have been selected for the Ministry of SMEs and Startups’ TIPS (Tech Incubator Program for Startups) support program.

Cool Bears, a company specializing in eco-friendly textile materials, will receive up to 1.5 billion KRW over the next 36 months to advance its technology for upcycling starfish and shells into vegan fillers. Vision Bridge Partners, which operates the K-pop IP-based global fandom platform ‘Hayer’, will receive up to 800 million KRW in R&D support over 24 months to enhance its AI technology and expand into digital collections and global commerce.

HiteJinro, which became the first general corporation selected as a TIPS operator in 2022, aims to expand its investment scope beyond the liquor industry into lifestyle sectors such as eco-friendly materials and content platforms.