Space Bank announced that it has been selected for the Startup Growth Technology Development Project (TIPS) hosted by the Ministry of SMEs and Startups and the Korea Angel Investment Association. With this project selection, Space Bank plans to fully pursue the development of an intelligent integrated control solution that can support heterogeneous sensor integration control functions on a single platform.
TIPS is a private investment-led technology startup support program run in cooperation between the Ministry of SMEs and Startups and private venture capital, with the goal of discovering and supporting promising technology startups with the potential to lead the global market. Through this program, Space Bank will receive up to 800 million won in support over the next two years, of which 500 million won will be used as research and development (R&D) funds.
With this support, Spacebank plans to advance its intelligent integrated control solution, ‘AIoT Wright’, and combine AI models to develop it into a control solution based on LLM (Large Language Model). Through this, it plans to accelerate the digital transformation of the public and private sectors.
“This TIPS selection will be a significant turning point that recognizes our company’s technological prowess,” said Wonhee Lee, CEO of Spacebank. “We will lay the foundation for advancing into the global market by quickly developing and supplying solutions based on a low-code development environment.”
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