Startup nurtured by Samsung seeks investment opportunities at 'Demo Day'

On the 10th, Samsung Electronics holds 'C-Lab Startup Demo Day' at 'Seoul R&D Campus'
21 startups including Silvia Health and DoubleMe participate... Seeking investment attraction and business opportunities

On the 10th, at the 'Samsung Electronics Seoul R&D Campus' in Seocho-gu, Seoul, Go Myung-jin, CEO of the non-face-to-face cognitive health management platform startup 'Silvia Health,' based on AI technology, is presenting about the business at the 'C-Lab Startup Demo Day.'

[Asia Economy Reporter Kim Hyewon] Samsung Electronics' 'C-Lab' program, created to nurture startups and young entrepreneurs both inside and outside the company, has established a virtuous cycle system of discovering, implementing, and commercializing creative ideas.

The 'C-Lab Startup Demo Day' held on the 10th at Samsung Electronics' Seoul R&D Campus was an opportunity to review past achievements and provide new business opportunities for startups. Under the theme "Meeting the Growth Points of Startups, C-Lab," a total of 21 startups nurtured by Samsung Electronics participated and shared their growth stories.

Considering the COVID-19 situation, 10 startup representatives attended the event along with Cho Seung-rae, member of the National Assembly from the Democratic Party of Korea, Park Sung-joong, member of the National Assembly from the People Power Party, Choi Yoon-ho, President of Samsung Electronics' Management Support Office, and Seung Hyun-joon, President of Samsung Research. President Choi stated, "I hope C-Lab startups use the changes in the world as momentum for growth and develop into world-class unicorns representing South Korea," adding, "We will continue to discover entrepreneurs who combine skill and passion and provide maximum support for their successful growth." The 21 startups participating in the demo day showcased cutting-edge future technologies and services such as dementia diagnosis, artificial intelligence (AI), metaverse (extended virtual world), cultured meat, optical communication, and electric vehicles.

Samsung Electronics has been able to keep its promise made four years ago to support and nurture 300 external startups and 200 internal venture projects by next year. So far, a total of 404 startups (242 external, 162 internal) have been nurtured.

On this day, Samsung Electronics also unveiled 20 newly selected startups that will receive support for the next year after going through a public contest. These 20 startups, selected from a competition ratio of 37 to 1, include ▲Business Canvas, a real-time document collaboration and knowledge management platform company ▲Lytton Technologies, a document writing platform company that improves writing skills for Generation Z ▲Algocare, a personalized nutritional supplement automatic blending device platform company ▲Worksbee, providing optimal job matching services ▲Newbility, an urban delivery service company using autonomous robots ▲Marine Innovation, a packaging company using seaweed by-products, among others.

Samsung Electronics introduced the internal venture nurturing program 'C-Lab Inside' in December 2012 to spread a creative organizational culture within the company. Since 2015, it has implemented a spin-off system allowing excellent internal venture projects to spin off as startups. In 2018, it established the external startup nurturing program 'C-Lab Outside.' C-Lab Outside operates both programs directly nurtured by Samsung Electronics and programs co-managed with the Daegu-Gyeongbuk Creative Economy Innovation Center. At the completion stage, a demo day is held inviting investors and corporate officials to showcase each startup's achievements and provide opportunities for business cooperation and investment attraction.

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