Acne (CEO Minho Kim), the operator of the web novel submission platform 'Submit', announced that it has been selected for 'TIPS', a private investment-led technology startup investment program hosted by the Ministry of SMEs and Startups.
Acne was selected for TIPS based on the support of SparkLabs, a global accelerator that has been operating as a private TIPS operator for 10 years, and will receive up to 700 million won in support, including 500 million won in technology development (R&D) funds and 200 million won in commercialization and overseas marketing funds over the next two years.
Its unique feature is that it provides information such as ▲submission genres by publisher ▲ratings and reviews ▲previous published works ▲cumulative statistics on promotions for the three web novel platforms, so that web novel writers who submit their works can find a publisher suitable for their submissions.
Since its launch in October 2022, Submit has secured over 12,000 web novel writer members and 161 registered publishers in just two years, bringing the cumulative number of writers using Submit to approximately 160,000.
With this selection of tips, we plan to expand our content area to include webtoons, as well as discover excellent web novel IPs with high potential for secondary creation, such as short dramas and movies.
Kim Min-ho, CEO of Acne, said, “The operating goal of Submit is to resolve the information asymmetry problem between web novel writers and publishers, while simultaneously supporting effective creative activities and promotion for both sides.” He added, “We will activate the IP open market so that capable IPs can go beyond primary creation and continue to secondary creations such as video adaptations.”
Meanwhile, Acne attracted seed investment from SparkLabs immediately after participating in the 21st batch of global accelerator SparkLabs in August 2023.
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