Ratel Semiconductor selected as TIPS by the Ministry of SMEs and Startups

December 30, 2024 ・ By In-Choon Yoo

Ratel Semiconductor has been selected for the Ministry of SMEs and Startups' TIPS (Tech Incubator Program for Startups), enabling the company to accelerate development of a high-efficiency LED driver for AI laptops. The selection, recommended by the Ulsan Center for Creative Economy & Innovation (Ulsan CCEI), includes up to KRW 700 million in support — comprising KRW 500 million in R&D funding, along with resources for business development and international marketing.

Founded by a team of power management IC (PMIC) design experts with an average of over 15 years of experience, Ratel Semiconductor aims to lead the shift away from reliance on Chinese and Taiwanese suppliers in the PMIC market. The company has been particularly focused on display-related PMICs, which are under growing demand for localization.

Through the TIPS project, Ratel plans to develop a high-efficiency LED driver IC tailored for on-device AI laptops. This IC aims to surpass the energy efficiency of leading Taiwanese competitors such as NOVATEK and RICHTEK by more than 3%, positioning Ratel at the forefront of global standards.

Ulsan CCEI, which invested in Ratel through the Asan U-STAR Angel Investment Fund (with Asan Nanum Foundation as a major contributor), will also support the company’s overseas expansion via the “U-STAR Global Program” and help attract follow-up investment through the Ulsan Startup Investment Forum.

Lee Jae-Ik, General Partner and Head Fund Manager at Asan U-STAR Angel Fund, commented, “With growing demand for on-device AI in 2025, the analog semiconductor market is expected to rebound. We believe Ratel Semiconductor has strong potential to become a leading global PMIC company, contributing significantly to domestic innovation and exports.”