Eco-friendly packaging one-stop development company 'REVATION', selected for TIPS

REVATION, a leading eco-friendly packaging one-stop development solution company pioneering carbon neutrality, announced on the 31st that it has been finally selected for the Technology Innovation Program for Startup (TIPS) by the Ministry of SMEs and Startups.

TIPS is a representative private investment-led nurturing program that selects promising startups with outstanding business models and excellent technological capabilities, providing support for research and development costs.

Recommended by Hanyang University's technology holding company, REVATION, selected for TIPS, has participated in pre-Series A investments by Korea Investment Accelerator, MYSC, and s-cubic Angels. This selection for TIPS is interpreted to have been mainly due to REVATION's R&D capabilities and the potential for business expansion through collaboration with large corporations and global companies.

REVATION is a company providing eco-friendly packaging one-stop development solutions from eco-friendly material R&D to production. With the selection for TIPS, REVATION has secured 500 million won in technology development and research funds for two years and plans to enhance its independent CMF product development solution system by advancing the plastic alternative natural polymer material development and product production system and expanding its service areas.

Minseong Lee, CEO of REVATION, stated, "Through innovative R&D research, we will overcome the limitations of existing bioplastics such as weak properties and costs, and develop second-generation bioplastics. We will also advance REVATION's independent CMF R&D system to leap forward as the central hub company in the plastic-free society."