TLDR: Korean startup The New Grey, specializing in content and commerce for seniors, has been selected for the Ministry of SMEs and Startups’ (MSS) TIPS program. This prestigious selection, recommended by Bluepoint Partners, grants the company up to ₩500 million KRW (approximately $367,000 USD) in R&D funding over two years. The funding will be used to further develop their AI-powered platform aimed at enhancing the senior creator economy, focusing on integrated content, academy, community, and commerce solutions.
The New Grey, a pioneering Korean startup dedicated to the burgeoning senior-focused content and commerce sector, has achieved a significant milestone by being selected for the Tech Incubator Program for Startup (TIPS) by the Ministry of SMEs and Startups (MSS). This highly competitive program, a flagship initiative of the MSS, aims to identify and accelerate promising early-stage technology companies by matching private investment with substantial government-backed research and development support.
The selection of The New Grey for the TIPS program follows a strong recommendation from its seed investor, Bluepoint Partners. This endorsement unlocks a substantial R&D funding package of up to ₩500 million KRW, equivalent to approximately $367,000 USD, to be disbursed over a two-year period. This financial injection is earmarked for advancing the company’s innovative use of artificial intelligence within the senior content commerce landscape.
At the core of The New Grey’s strategy is the development of an integrated value chain encompassing content creation, educational academies, community building, and commerce, all powered by AI. This comprehensive approach targets the rapidly expanding ‘Silver Economy.’ The company’s business model is centered on cultivating intellectual property (IP) around senior influencers and subsequently leveraging these assets into high-trust commerce channels.
With the support from the TIPS program, The New Grey has outlined several key objectives: to enhance its AI-powered academy designed for training senior creators; to broaden its collaborations with global brands to diversify revenue streams; and to refine customized IP commerce frameworks to achieve higher engagement and conversion rates.
Co-CEO Yoo Dae Young articulated the company’s strategic vision, stating, “We will connect education, content, advertising, and commerce into a single value chain and use AI to refine senior creators’ content planning and performance. Our goal is to open a new market for the ‘senior creator economy.’”
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The New Grey first gained widespread public recognition through its viral ‘Change My Dad’s Profile Picture’ project, an initiative that involved restyling and professionally photographing ordinary men in their 50s and 60s. This campaign garnered nearly 1 million social media followers, significantly boosting the company’s brand visibility and community engagement. Building on this success, the startup has since trained over 200 senior creators annually and forged partnerships with more than 70 domestic and international brands for various advertising campaigns, solidifying its influence in shaping Korea’s active senior and ageless lifestyle trends. Participation in the TIPS program is expected to further propel The New Grey’s AI capabilities and expand its reach within the global senior economy, a sector increasingly attracting attention from investors, brands, and policymakers worldwide.
