Moo-hyup, Hoban, and Dongbanseongjangwi Select Award-Winning Companies for '2020 Innovation Technology Contest'
[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (Chairman Kim Young-joo), in collaboration with Hoban Group and the Win-Win Growth Committee, announced that Fluxity, which proposed a digital twin-based construction site safety management platform solution, won the grand prize at the '2020 Innovation Technology Contest' held to discover innovative technologies in smart cities, artificial intelligence (AI), and construction sectors.
MoconST, which proposed smart construction technology utilizing bathroom items, and Ten Eleven, an AI architectural design solution company, received the excellence awards, while Lounge Lab, which proposed installing unmanned stores within apartment complexes, and two other companies received the merit awards.
A total of 290 companies participated in this contest, proposing 307 projects ranging from cost reduction and construction method improvements to construction innovation using Fourth Industrial Revolution technologies such as smart cities and AI. Through document screening, preliminary evaluation, and final presentations, 10 companies were selected as awardees.
The winning companies received technology development support funds as follows: grand prize (1 company) 100 million KRW, excellence awards (2 companies) 50 million KRW each, merit awards (3 companies) 10 million KRW each, and encouragement awards (4 companies) 5 million KRW each. In particular, the grand prize winner is also provided opportunities such as investor relations (IR) presentations and technical consultations.
Additionally, the Trade Association supports the global expansion of the selected startups, and Hoban Group’s accelerator (AC) corporation Plan H Ventures plans to provide linked support through the 'TIPS' program, a private investment-led technology startup support project hosted by the Ministry of SMEs and Startups, as well as pilot applications at construction sites.
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Han Jin-hyun, Vice Chairman of the Trade Association, emphasized, "I hope our construction industry, armed with innovation and digital technologies, will take the lead in smart cities and high value-added construction exports. The Trade Association will actively support the innovation creation and global joint expansion of startups and Hoban Group."
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