Bridgeworks (CEO Taehoon Park), a startup that operates the offline cashback app 'Cashmore', announced on the 21st that it was finally selected for the Ministry of SMEs and Startups' private investment-led technology startup support program 'TIPS'.
TIPS is a leading technology startup incubation program where private investors proactively invest in promising startups, while the government provides support through R&D and commercialization funding. The rigorous selection process makes it a recognized indicator of growth potential in the startup industry. Bridgeworks was selected for this program upon the recommendation of Mashup Ventures.
Bridgeworks plans to focus on developing technologies that enable performance-based marketing in offline environments, leveraging TIPS support. This will enable small businesses and brands to more efficiently implement marketing strategies based on actual sales performance, while also providing consumers with richer rewards and a more rational shopping experience.
"Cashmore," currently operated by Bridgeworks, is a service that collects and analyzes real-time consumption data. Users can upload photos of receipts purchased at offline stores and receive instant cashback. With over one million receipts to date, the service analyzes nationwide consumer behavior down to the purchase history level. This data is used to support offline stores in attracting new customers and increasing sales.
Park Tae-hoon, CEO of Bridgeworks, said, “I believe that being selected for this TIPS has validated our business model and technological direction. We will demonstrate that data-driven, performance-based marketing is possible even in offline environments, and strive to provide real value to both brands and consumers.”
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