Samsung Financial Affiliates Hold Open Collaboration to Discover Startups
[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance and other Samsung Group financial affiliates announced on the 22nd that they will hold the '2nd Samsung Financial Open Collaboration' to discover successful cases of financial innovation through win-win cooperation with startups.
The Samsung Financial Open Collaboration selects finalists through screening, then develops solutions and business models in cooperation with Samsung Financial, and determines the final winning team through a presentation event in September this year.
This year, support has been further strengthened to facilitate smooth project execution by startups. The 13 startups advancing to the finals will receive 30 million KRW in support funds, and the joint project period with Samsung Financial has been extended to 4 months.
The winning startups, one team selected from each financial company, will receive an additional prize of 10 million KRW and opportunities for equity investment. The winning team of the first competition, 'WeHealed,' received a 1 billion KRW equity investment from Samsung Life Insurance and is promoting the development of AI-based customized healthcare services.
Domestic startups and small and medium enterprises wishing to participate can apply through the official website. The challenges presented by Samsung Financial consist of 17 challenge tasks tailored to each company's characteristics, 2 common tasks for synergy among financial companies, and free topics.
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A Samsung Financial official said, "Through win-win cooperation between Samsung Financial and startups, we will find new opportunities for the growth of future finance and elevate the level of domestic fintech with solutions embodying innovation."
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