20 Companies Including KBL Element and eFlow Selected as '2021 SoBuJang Startups'

Operation in 5 Fields: Composite Materials, Smart Engineering, Industrial IoT, Convergent Bio, Eco-friendly
20 Companies Selected Annually from 2020 to 2024, Totaling 100 Companies Discovered

[Asia Economy Reporter Kim Jong-hwa] Twenty companies, including KBL Element Co., Ltd., which developed a non-oxidized graphene composite material with high thermal conductivity and low defect rate, and Eflow Co., Ltd., which developed a high-output and compact axial wound motor, were selected for the '2021 Materials, Parts, and Equipment Startup 100.'

The non-oxidized graphene composite material developed by KBL Element is expected to achieve import substitution in the high-efficiency heat dissipation material market currently dominated by Japan's Company D. Additionally, the wound motor developed by Eflow is anticipated to capture the rapidly growing micro-mobility market in Europe and North America.

The Ministry of SMEs and Startups announced on the 15th that it selected 20 companies for the 2021 'Materials, Parts, and Equipment Startup 100' at the Conrad Hotel in Seoul and presented certificates to five outstanding companies in each sector.

The 'Materials, Parts, and Equipment Startup 100' project aims to revitalize startups in the materials, parts, and equipment sector, strengthen corporate capabilities, and establish a stable domestic supply chain. It operates across five fields: composite materials, smart engineering, industrial Internet of Things (IoT), convergence bio, and eco-friendly technologies.

From last year through 2024, 20 companies are selected annually, targeting a total of 100 companies. Following the initial selection of 20 companies last year, an additional 20 were selected this year. The program is characterized by matching startups with demand companies' technology needs to select candidates and providing mentoring to refine business strategies. Starting applications in April, 520 startups applied, resulting in a high competition ratio of 26:1. After document screening and on-site and presentation evaluations, 20 companies were finally selected.

Looking at the outstanding companies by sector, KBL Element Co., Ltd. was selected in the composite materials field. The company developed a non-oxidized graphene composite material with high thermal conductivity and low defect rate, expected to achieve import substitution in the high-efficiency heat dissipation material market dominated by Japan's Company D.

In the smart engineering field, Eflow Co., Ltd. was selected. The company developed a high-output and compact axial wound motor, expected to capture the rapidly growing micro-mobility market in Europe and North America.

Smart Radar System Co., Ltd. was selected as a promising startup in the industrial IoT field. It developed an AI-based high-resolution 4-dimensional (4D) image radar, which is evaluated to contribute to enhancing competitiveness in various fields such as autonomous vehicles, drones, and industrial safety sensors.

In the convergence bio field, Jibrain Co., Ltd. was selected. The company developed electronic skin-type brain disease diagnosis and treatment equipment, leading the localization of brain disease medical devices, which are currently fully imported from the U.S. Company M, and is expected to lead the global market with its advanced technology.

In the eco-friendly field, Gosan Tech Co., Ltd. was selected. The company developed a dedicated inkjet module for mass production of next-generation perovskite solar cells, securing the world's first large-area perovskite mass production technology and is expected to lead the global solar power market.

The selected startups will receive support for commercialization (up to 200 million KRW), preferential limits on policy funds (loans and guarantees) and reductions in guarantee fees, as well as additional points (up to 5 points) in technology development (R&D) projects.

Cha Jung-hoon, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, said, "To enhance the competitiveness of the materials, parts, and equipment industry, which is the foundation of manufacturing, we will actively support materials, parts, and equipment startups to continuously grow from technology development and demonstration to mass production."

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