Home & Co. (Co-CEOs Ryu Ji-ho and Kook Hyung-joo), operator of the space maintenance service "Homeco," announced on the 17th that it has been selected for the General Track of the Ministry of SMEs and Startups' Technology Investment Program (TIPS). This selection will secure up to 500 million won in government R&D funding and an additional 300 million won in related support for future commercialization and overseas marketing.
Homeco is a startup that provides essential residential repair services through a standardized process. By introducing an industry-first standardized pricing system, it eliminated the opacity of estimates and quickly established itself in the market based on a differentiated customer experience, including free on-site inspections and a simple one-minute application process. Within six months of launch, it achieved high conversion and repeat purchase rates, successfully demonstrating its market standing. Furthermore, it secured a total of KRW 700 million in seed investment from Kakao Ventures and Xsquared.
Through this R&D project, Homeco will gradually build a structured repair database based on field data, an AI engine for automated estimation and process recommendations, and a construction quality management and technician training system. This will address the chronic problems of data shortage and technician dependency in the home repair industry, and provide a more efficient and reliable maintenance experience.
Furthermore, we plan to develop a system that uses AI to automatically label and analyze photo and video data captured by field technicians, establishing a foundation for ensuring a certain level of service quality regardless of individual technicians' skill level. Leveraging the data and technological prowess acquired, Homeco plans to expand its business into facility management (FM) and asset management (AM), with the long-term goal of establishing global branches and exporting its solutions.
“This selection as a TIPS member will allow us to accelerate our efforts to address structural inefficiencies in the domestic home repair industry through data and AI technology,” said Kook Hyung-joo, CEO of Homeco. “We aim to grow into a company that sets new standards for the global residential maintenance market, extending beyond the domestic market.”
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