Samsung Electronics Shares Startup Achievements... Hosts 'C-Lab Outside Demo Day'

Startup CEOs selected for C-Lab Outside and supported by Samsung Electronics for one year (clockwise from top left) CEO Wonjun Lee of Nodamen, CEO Taehun Kim of DeepPingSource, CEO Jungha Yoon of Jakdangmoi, Vice President Jaewon Shim of Counter Culture Company

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics announced on the 2nd that it held the 'C-Lab Outside Demo Day' to share the achievements of startups and explore collaboration opportunities.

The C-Lab Outside Demo Day is a platform where Samsung Electronics showcases the achievements of startups it has nurtured over the past year and seeks new business opportunities. Anyone interested in startups and innovative technologies, including startups, investors, and corporate officials, can participate.

This event was held online considering the COVID-19 situation under the theme "Innovation with Startups and Samsung Electronics, Create Great." Attendees could meet the products and services of a total of 20 startups and hear the founders' entrepreneurial stories through videos.

Sharing the achievements of startups nurtured over one year... Exploring collaboration opportunities

At this Demo Day, 20 startups including DeepingSource, CounterCultureCompany, Nodamen, and CatchIt Play participated to showcase their achievements over the past year and seek new business opportunities such as partnership connections and investment attraction.

DeepingSource, which develops technology for anonymizing personal data, has been recognized for its technological excellence and is preparing businesses that utilize anonymized customer information as big data with insurance companies, large marts, and others.

Son Sangwon, CEO of CounterCultureCompany, which launched a K-POP training service earlier this year, said, "With expert support for technology deployment and strategy establishment for digital marketing, we were able to launch the service quickly," adding, "We achieved our target sales within just 20 days of launch."

Nodamen, which operates a platform for appreciating and trading artworks, recently collaborated with Samsung Electronics' Visual Display Business Division to launch 'Patron,' an exclusive application for Samsung Smart TVs.

Lee Wonjun, CEO of Nodamen, said, "Being selected for C-Lab Outside made collaboration with Samsung Electronics possible," and added, "It gave me great confidence to proceed with the business going forward."

Growth of Samsung Electronics and startups together through 'C-Lab Outside'

Samsung Electronics is providing full support through C-Lab Outside to help startups grow, including technology support, external promotion, and investment attraction.

Startups selected for C-Lab Outside receive dedicated office space within Samsung Electronics' Seoul R&D Campus for one year, mentoring from Samsung Electronics experts, participation in domestic and international IT exhibitions, support for listing on sales sites targeting Samsung Electronics employees, and 100 million KRW in business support funds.

In particular, customized growth support programs for each startup help expand their business and increase value. They assist in establishing product strategies that reflect customer voices through in-depth customer research and data-driven marketing, which are crucial in the early stages of business.

Yoon Jungha, CEO of Jakdangmoi, which provides AI-based beauty services, said, "Through FGI, we identified users' needs to jump directly to sections where cosmetics were used in videos, and after introducing the section-jump feature, video clicks increased by 255% compared to before."

Additionally, by supporting network connections with Samsung Electronics affiliates and external investment institutions, more than half of the 20 startups succeeded in attracting investment. This includes 6.5 billion KRW for DeepingSource, 5 billion KRW for Jakdangmoi, and 3 billion KRW for Supertree, totaling 18 billion KRW.

Nurturing 300 external startups by 2022

Since 2018, Samsung Electronics announced that over five years, it would nurture a total of 500 internal and external startup projects through C-Lab, including 200 in-house employee startup projects (C-Lab Inside) and 300 external startup nurturings (C-Lab Outside).

C-Lab Inside has nurtured 75 projects over the past three years and is currently nurturing 40 projects. C-Lab Outside has completed nurturing 142 startups and is currently nurturing 40 startups.

Under the CSR vision "Together to the Future! Enabling People," Samsung Electronics is carrying out various win-win activities and youth education social contribution activities, including C-Lab Outside, Samsung Future Technology Development Project, smart factories, and win-win funds for partner companies.

Seunghyun Joon, President of Samsung Electronics Samsung Research, said, "Samsung Electronics will join startups on their journey to create innovation," and added, "We expect C-Lab Outside startups to continue growing and leap forward as global companies leading the future."

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