Seoul Digital Foundation Opens Crowdfunding to Support Early Market Entry of Smart City Companies...

Supporting Market Expansion for Smart City Products and Services Facing Difficulties

[Asia Economy Reporter Lim Cheol-young] The Seoul Digital Foundation unveiled funding projects on the 8th to support market entry for companies in the smart city sector facing initial market entry difficulties.

There are 10 projects participating in the crowdfunding. The foundation organized a special exhibition under the theme of "Digital Life for Single-Person Households," responding to the increasing need for digital transformation in daily life that enables smart living alone due to the rise in single-person households.

This funding is being promoted in cooperation with Tumblbug, a crowdfunding platform specialized in market entry support for early-stage smart city companies, and will run from October 22 to December 15.

Any Seoul citizen can participate, and support can be freely made starting from a minimum of 1,000 KRW. After the funding period for each project ends, the products will be produced and delivered to the supporters.

Among them, the "Smart Cactus Leather Shopper Bag (with electromagnetic shielding function)" has raised about 20 million KRW, achieving 2045% of its target amount. Most projects are exceeding their goals, such as the IoT desktop clock "Rucam" at 316%, and the single-person household self-management app "Honjok-ui Jewang" Life Handbook at 286%.

Kang Yo-sik, Chairman of the Seoul Digital Foundation, said, "By establishing a non-face-to-face support system using online platforms, we will actively support business creation for early-stage companies in the smart city sector," adding, "We will continue to strive to discover smart city services that citizens can experience using digital technology."

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