Inno-te-co Co., Ltd., a startup in the field of MEMS gas sensors and IoT gas alarms, announced that it has been finally selected for the 'Pre-TIPS' program hosted by the Ministry of SMEs and Startups (MSS).

Inno-te-co Co., Ltd. is a resident company of the Korea Polytechnic University Business Incubator (hereinafter KPU BI). It has steadily grown its business by receiving facility support from KPU BI, as well as customized 1:1 corporate consulting, investment IR competitions, provision of information and counseling on government policy tasks, support for participation in industry-academia cooperation programs, and technical and management guidance through the assignment and connection of a dedicated business incubation advising professor.

The project, 'Carbon Monoxide Poisoning Accident Prevention and Situation Propagation System through Sensor Signal Pattern Analysis,' was selected as a Stepping Stone (Didimdol) startup project of the MSS's Startup Growth Technology Development Project and is currently underway.

 Through the KPU Business Incubator investment IR competition, the company attracted investment from the Korea Bio Investment Partners accelerator early this year, achieving the result of being selected for this Pre-TIPS program. Accordingly, it will receive 90 million KRW in funding for 10 months to materialize its business items.

Jeong In-ho, Director of KPU BI, stated, "I am delighted that Inno-te-co Co., Ltd. has enhanced its competitiveness and continued steady growth through our center's resident company support program, leading to the signing of the agreement for the 2021 Pre-TIPS program selection." He added, "We will continue to provide a systematic and efficient startup support process to offer close support so that early-stage startups can take a leap forward."

Kim In-ho, CEO of Inno-te-co Co., Ltd., said, "Having started a business based on gas sensor technology, we were able to achieve results thanks to the support of the Business Incubator Center, technical collaboration with Professor Kim Chang-gyu of the Department of Nano Semiconductor Engineering, human resource support, and equipment utilization." He added, "Our goal is to grow into a global gas sensor specialized company capable of competing in technological prowess with advanced gas sensor countries such as Germany, the United States, and Japan." Currently, the company is dedicating itself to gas sensor development by hiring graduates from the Department of Nano Semiconductor Engineering at Korea Polytechnic University.

Meanwhile, Pre-TIPS is a program where the private sector and the government jointly discover and nurture promising startups. Its purpose is to uncover early-stage startups that have attracted angel investment (Seed) from investors and grow them into companies with global competitiveness.

Companies selected for Pre-TIPS receive up to 100 million KRW in commercialization funds for 10 months to materialize their business items, along with practical training on investment attraction and opportunities for investment briefing sessions and counseling targeting TIPS operators.

Source: Daily Economy (https://www.kdpress.co.kr)