AI-based startups StepHow (CEO Hwang Seong-wook) and Jimwork (CEO Kim Joo-yong) announced on the 4th that they had been selected for TIPS, the Ministry of SMEs and Startups' technology startup support program. Both companies were recommended by Mashup Ventures, an early-stage startup investment firm.
TIPS is a program jointly developed by private investment firms and the government to discover and nurture promising technology startups. Selected companies receive up to 500 million won in research and development (R&D) funding over two years. This funding helps them secure technological prowess and establish a foundation for early market entry.
StepHow, a company developing AI agents for automating local document exploration and creation, plans to focus on developing an "intelligent information assistant system" through the TIPS program. This system integrates scattered information within an organization, understands user context, and provides timely, relevant information.
The solution has proven its stability by being implemented by major domestic companies and public institutions, including CJ Olive Young, BGF Retail, Dongseo Food, and DB Insurance. It also recently recorded substantial sales in the US market, confirming its potential for global expansion.
Gymwork, a company that operates a personalized fitness app, plans to advance its AI-based personalization technology through TIPS support. It is developing technology that analyzes users' exercise goals, physical condition, and exercise history to provide customized exercise programs and real-time intensity adjustments.
Gymwalk has surpassed 200,000 cumulative users based on content created in collaboration with health professionals and athletes, and is currently accelerating its overseas expansion, focusing on the North American market.
Lee Taek-kyung, CEO of Mashup Ventures, said, “Both companies have a clear understanding of the problem and the technological capabilities to solve chronic inconveniences for users,” and added, “As they have maintained steady growth since the initial investment, we expect even faster growth in both domestic and international markets with the selection of TIPS.”
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