Birinker (CEO Jae-min Ahn), which operates the fabless automated parts consignment manufacturing solution 'Birinker Manufacturing' and the AI-based manufacturing drawing management solution 'Birinker Cloud', announced on the 6th that it was finally selected for the Global TIPS program hosted by the Ministry of SMEs and Startups.
Global TIPS is a government program that systematically supports promising startups that have attracted investment from overseas venture capital firms in establishing overseas subsidiaries and entering the global market. Applicants are selected based on a comprehensive evaluation of their technological prowess, business viability, and global expansion potential. Only companies that have secured at least $200,000 in investment from overseas investors are eligible to apply. Last year, the program was highly competitive, with approximately 120 companies applying and only 20 ultimately selected.
Prior to being selected for this Global TIPS program, Biringer secured investment from the US venture capital firm Strong Ventures, demonstrating its global business capabilities and growth potential. Following the investment firm's recommendation, Biringer applied for the Global TIPS program and was ultimately selected.
With this selection, Biringer will receive up to 600 million won in overseas expansion funding over the next three years. This funding will support full-scale global expansion, including establishing overseas subsidiaries, promoting local business development, and establishing global partnerships.
Bilinker is currently expanding its exports of processed products, focusing on the North American market, through its fabless-based automated component consignment manufacturing network. It has already completed the delivery of its initial batch, and is currently in negotiations for exports of subsequent volumes. Capitalizing on this Global TIPS selection, the company plans to establish an overseas subsidiary in North America and strengthen new sales efforts centered on local operations, further expanding its overseas sales.
Jae-min Ahn, CEO of Biringer, said, “This selection as a Global TIPS is the official recognition of Biringer’s manufacturing data technology and global business competitiveness,” and added, “We will continue to expand the competitiveness of our data-driven manufacturing solutions in overseas manufacturing markets.”
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