Gwangju's 'G-Unicorn Corporations', which select and foster local startups with high growth potential, are producing results.
Gwangju City (Mayor Kang Ki-jeong) said that the five ‘G-Unicorn Corporations’ chosen last yr, including SOS Lab, Intflow, Cheomdan Lab, POEL, and Studio Button, are achieving tangible results akin to attracting investment, export contracts, trademark applications, and mental property rights registration. It was announced on the twenty third.
The 'G-Unicorn Development Project' is a start-up growth program through which Gwangju selects start-up corporations with excellent technology and high growth potential within the region and supports them in entering the worldwide market, including attracting investment and supporting sales channels.
Gwangju provides G-Unicorn corporations with ▲Open Innovation Strategy (Open Innovation) for collaborative business with large corporations ▲Seattle Proof-of-Code (PoC) Program for entry into North America ▲Support for participation within the Electronics Show (CES) to develop overseas sales channels ▲G- We’re supporting the holding of ‘G-Unicorn IR Day’, a venue for connection between unicorn corporations and investors.
'SOS Lab' (CEO Jeong Ji-seong), an organization that develops and produces fixed LiDAR for vehicles, achieved 17.6 billion won in investment on the pre-IPO stage. As well as, application for preliminary examination for listing under the KOSDAQ market technology evaluation special case, consultation on joint development of software with North American company Metrola through a proof-of-concept (PoC) program, participation in a dedicated exhibition booth on the 2024 International Electronics Show (CES), and mental property rights (application 8, Registration13) and other achievements were achieved.
'Intflow' (CEO Jeon Gwang-myeong), a man-made intelligence deep tech company that analyzes biometric information of non-contact animal individuals, won the Innovation Award within the Human Security for All category on the 2024 Consumer Electronics Show (CES) and launched a man-made intelligence livestock animal management platform. We signed a usage contract with 25 domestic farms of 'Edge Farm'. As well as, we’re searching for to develop a sales channel with Carthage Veterinary Service, certainly one of the highest 10 U.S. pig farming corporations, through trademark applications (4 in North America, 1 in Europe) and proof-of-concept (PoC) programs.
‘High-tech Lab’ (CEO Ha-jun Jang), an organization that manufactures and commercializes silicon nitride balls using waste silicon, produced prototype bearing balls and accomplished the development of mass production system equipment. There have been achievements akin to export contracts through the proof-of-concept (PoC) program, follow-up investment attraction through the investment attraction program, and PCT domestic entry applications (1 case in Japan, 1 case in China).
POEL (CEO Jong-Heon Lee), an energy-saving cooling material technology company, built its own production plant to provide cooling movies and derived prototype cooling test results that showed a 41% power savings. As well as, it was chosen for the private investment-led technology startup support (TIPS) overseas marketing project.
‘Studio Overton’ (CEO Kim Horak), an animation content planning and production company, signed an export business agreement (MOU) to the Greater China region, signed a non-disclosure agreement (NDA) regarding content distribution through a proof-of-concept (PoC) program, attracted 600 million won in investment, and created a magic puncture test. A series of achievements were achieved, including animation video production and commercialization rights business agreements.
This yr, Gwangju may even select participating corporations within the 'G-Unicorn Development Program' targeting local start-ups with a cumulative investment amount of KRW 500 million or more, no matter business experience, and supply commercialization funds of as much as KRW 300 million and programs for corporate growth. Is anticipated.
Director Jae-hee Joo of the Economic Startup Bureau said, “G-Unicorn corporations have achieved remarkable results even in difficult economic conditions based on modern business models and technological capabilities.” He added, “This yr, we may even discover promising early-stage local corporations (startups) and create global giant recent corporations (startups).” “We’ll actively support it in order that it could possibly change into a unicorn company,” he said.
Reporter Oh Deok-hwan odh@aitimes.com