Samsung and Hyundai Motor Group Achieve Results in Supporting In-house Startups

Samsung Electronics Supports 5 Startups through 'C-Lab Inside'... Hyundai Motor to Spin Off 4 Companies This Month

Employees participating in five projects launching startups through Samsung Electronics C-Lab

[Asia Economy Reporters Suyeon Woo, Gimin Lee] Startup incubation programs by the top two conglomerates, which nurture ventures within their companies and help them spin off as independent enterprises, are steadily producing results.

On the 18th, Samsung Electronics announced support for the establishment of five outstanding startup projects from 'C-Lab Inside.' C-Lab Inside is a program introduced in December 2012 by Samsung Electronics to foster a creative organizational culture and discover creative ideas from its employees.

The five startups spinning off this time are ▲ 'Blockbuster,' which enables easy production of computer graphics (CG) video content ▲ 'HYLER,' which converts and manages text on paper into digital form ▲ 'HAXBY,' which provides AI-based wrong answer management and recommended problems ▲ 'SunnyFive,' a window-type lighting that generates artificial sunlight ▲ 'RootSensor,' an ultra-small sensor capable of measuring ultraviolet exposure.

Samsung Electronics provides initial business funds and support to founders through the C-Lab spin-off system and offers the opportunity to rejoin the company within five years after spin-off if desired. Samsung Electronics explained that this is spreading a culture where employees can challenge entrepreneurship with their ideas without fear of failure. So far, 163 people have started businesses, establishing 45 startups, and the investment attracted after spin-off is approaching 55 billion KRW. The overall corporate value has also increased more than threefold compared to the time of spin-off.

Hyundai Motor Group also spun off four promising in-house startups this month: 'MyCell,' 'PM SOL,' 'WonderMove,' and 'LM CAD.' These independent companies, 'MyCell,' 'PM SOL,' 'WonderMove,' and 'LM CAD,' have undergone 2 to 4 years of incubation and preparation and possess technologies such as mushroom mycelium-based bio, composite lubricants, community mobility services, and 3D drawing information solutions. Starting this month, they plan to pioneer related markets across various industries, including Hyundai Motor Group, as independent enterprises.

This content was produced with the assistance of AI translation services.