Business · Companies · 1 hr ago
Three Korean startups backed by joint fund win government support
A joint investment fund in South Korea backed three startups, and all three have now been selected for government-linked support programs.
The fund is run by Ewha Womans University Technology Holdings and the Seoul Center for Creative Economy and Innovation.
The selected companies are Dandae Bio, beauty and women’s health firm Prumua, and fabric brand Urbanstroll.
The programs connect private investment with public support: TIPS provides research and development funding, while LIPS offers loans or business development funding to small businesses.
Dandae Bio was selected for TIPS, Prumua for LIPS I, and Urbanstroll for LIPS II, which supports overseas expansion.
All three were selected within six months of the fund’s formation in May.
The two organizations plan a second fund focused on early-stage deep-tech companies, with added emphasis on women-founded businesses and femtech.
Three startups backed by a joint fund run by Seoul Business Agency’s Seoul Center for Creative Economy & Innovation and Ewha Womans University Technology Holdings were selected for South Korean government support programs.
The selected companies are Daedan Bio, Purmeua and Urbanstroll.
Daedan Bio was selected for TIPS, while Purmeua and Urbanstroll were selected for LIPS programs.
All three were selected within six months of the fund’s formation.
The two organizations plan a second fund focused on early-stage deep-tech companies, with an emphasis on women-led startups and femtech.
- Who
- Daedan Bio, Purmeua and Urbanstroll, backed by a fund run by Seoul Center for Creative Economy & Innovation and Ewha Womans University Technology Holdings.
- What
- All three startups were selected for government support programs: TIPS or LIPS.
- When
- The selections were announced on November 11, 2026. The fund was formed six months earlier.
- Where
- South Korea.
- Why
- The programs link government support to private investment. The sources do not state why the companies were selected.
This story does not have two clearly opposing sides.
Ewha Womans University Technology Holdings and Seoul Center for Creative Economy & Innovation signed a memorandum of understanding.
The two organizations formed the joint investment fund.
The organizations announced that all three companies backed by the fund had been selected for TIPS or LIPS.
- Fund formation
- May 2026
- Time to selections
- Six months after the fund was formed
- Daedan Bio
- Selected for TIPS
- Purmeua
- Selected for LIPS I
- Urbanstroll
- Selected for LIPS II
1 source
What people are saying
The fact that all of our portfolio companies were selected for government support programs is the result of the consistent efforts of Ewha Womans University Technology Holdings’ original technologies and Seoul Center for Creative Economy & Innovation’s public infrastructure working together.