Seoul City to Participate in 2022 US CES... Recruiting Innovative Companies for 'Seoul Pavilion' Participation

Providing Overseas Expansion Opportunities by Expanding to 25 Participating Companies

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 2nd that it will participate in the world's largest consumer electronics exhibition, CES (Consumer Electronic Show) 2022, held in the United States in January next year. This exhibition will be held offline for the first time in two years since the COVID-19 pandemic.

Seoul plans to expand the number of participating companies to 25, providing opportunities for startups with promising technologies to enter overseas markets. In addition, it will widely promote how Smart City Seoul is driving digital transformation and service innovation across the city.

Among them, Seoul will first select 15 digital innovation companies to participate in the CES Seoul Pavilion next year, focusing on strengthening their capabilities for overseas market entry and helping them achieve tangible business results.

The Seoul Digital Foundation announced that it will hold a competition called 'Stage Eureka' to select digital innovation companies. Participating companies will be recruited through the Seoul Digital Foundation website from the 5th to the 19th.

The recruitment fields are divided into three categories: smart transportation & environment, smart safety & health, and smart economy & living. Companies located in Seoul with less than seven years since establishment and possessing technological capabilities can apply. The selection process consists of a document review and an on-site pitching evaluation. Thirty companies will be selected to participate in the competition based on a document review considering the innovativeness of their services and potential for overseas expansion. Subsequently, through on-site pitching with domestic and international investors, the companies' technological capabilities, overseas expansion plans, and pitching skills will be evaluated to select a total of 15 companies: one top company and four excellent companies per category.

The 15 outstanding companies selected through Stage Eureka will be given the opportunity to participate in the CES Seoul Pavilion next year. They will also receive various benefits, including prize money, CES participation expenses, pre-technical verification (POC) linked to industrial demand, investment matching, and an accelerating program for comprehensive support of company scale-up. Especially this year, the program will be well-organized based on prior surveys of company needs.

The top company will be awarded the Chairman's Award of the Seoul Digital Foundation, prize money of 4 million KRW, airfare for CES participation (5 million KRW), and additional prizes worth about 10 million KRW, including the Innovation Awards application fee. Excellent companies will receive the Sponsor Institution Head's Award and airfare for CES participation (3 million KRW), totaling about 4 million KRW in prizes. Exhibition space setup, interpretation and transportation costs, and business program participation benefits will also be provided.

Meanwhile, Seoul plans to additionally select 10 more companies through the second recruitment process scheduled for August, in addition to the 15 companies selected through the first Stage Eureka.

Lee Won-mok, Acting Chairman of the Seoul Digital Foundation, said, “Next year’s CES will be a global competition showcasing digital innovation technologies that have been the foundation for overcoming COVID-19. Through this event, we will actively support Seoul-based technology startups to thrive in the global market via CES, while also taking the opportunity to actively promote the status of Smart City Seoul.”

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