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Seoul Digital Foundation (Acting Chairman Lee Won-mok) held Stage Eureka on July 9 at COEX and selected 15 best smart city innovation companies to exhibit in next year’s CES event.
This contest was promoted to improve the business performance of companies that will be exhibiting in CES Seoul Pavilion. It was set up to select companies with outstanding technology in early stages to enhance their abilities to enter overseas markets.
Seoul Metropolitan City has made great achievements by participating in CES for the first time this year and having a contract worth 19.6 billion won. Next year, it plans to use CES as a bridgehead for promising startups to enter the overseas market by more than doubling the size of the Seoul Pavilion and expanding the number of companies from 20 to 50.
At the contest, 40 companies that have passed the screening in the areas of △Smart Transportation·Environment, △Smart Safety·Health, and △Smart Economy·Living competed fiercely. Accelerators and investors like Korea Investment Partners, Lotte Accelerator, and Mirae Asset Venture Investment were invited to become the judges to verify the company’s technology, overseas entry potential, and pitching ability.
The top prizes went to three companies: △ Smart Traffic and Environment – Piquant (CEO Pi Do-yeon), △ Smart Safety and Health – Medi Whale (CEO Choi Tae-geun), △ Smart Economy and Living – Waynehills Ventures (CEO Lee Su-min) A total of 12 companies were selected for Excellence Award.
The top prize in the transportation and environment sector went to Piquant, which has an indoor environment monitoring IoT solution (AirQuant) with optical technology. In the safety and health sector, Medi Whale which provides a solution for cardiovascular disease and ischemia (DrNoon for CVD), received the top prize. In the economy and living sector, Waynehills Ventures, which has automatic text conversion software (SW), received the top prize.
With the award ceremony, the foundation awarded The Seoul Digital Foundation Chairman’s award and 10 million won in prize money for top prizes, and The Sponsoring Organization President’s award and 4 million won in prize money for outstanding companies. These companies will be given education and accelerators to advance into overseas markets to expand business performance, and benefits of linking domestic and foreign investors and buyers. Stage Eureka was made possible by the sponsorships from KITA, Korea Startup Forum, N15, AVING News, and Gangnam Startup Forum.
Lee Won-mok, CEO of Seoul Digital Foundation, said, “Stage Eureka is meaningful in finding and nurturing companies with technology and potential for overseas expansion while Seoul is preparing for the Start-up Renaissance in preparation for the post-corona era. We will actively support startups in Seoul to be active in the global market through CES.”
Lee Su-min, CEO of Waynehills Ventures that won the top prize in the smart economy and living sector, said, “As CES is an international stage that attracts the attention of companies, the media, and investors from all over the world, we will fully prepare for the remaining time to be a stepping stone to enter the overseas market.”
The Seoul Digital Foundation will also conduct general recruitment for companies wishing to participate in the CES 2021 Seoul Pavilion from July 21 to August 14. Companies wishing to apply can refer to the Seoul Digital Foundation website.