Samsung Electronics Launches 4th Batch of 'C-Lab Outside'... Supporting 20 Companies Armed with 'Innovation'

Support including 100 million KRW business grants, dedicated spaces, and customized programs
Since 2018, a total of 426 in-house ventures and startups nurtured

[Asia Economy Reporter Lee Hyeyoung] Samsung Electronics held the launch ceremony for the 'C-Lab Outside 4th Cohort' at the Samsung Electronics Seoul R&D Campus in Seocho-gu, Seoul.

According to Samsung Electronics on the 23rd, 20 startups leading innovation in various fields such as metaverse, artificial intelligence (AI), robotics, digital health, and eco-friendliness were selected for the C-Lab Outside 4th Cohort after breaking the record-high competition rate (37 to 1) in the second half of last year's contest.

The 20 selected startups will receive tailored programs for each growth stage, including ▲business support funds of 100 million KRW ▲in-depth customer research ▲data-driven marketing ▲financial capabilities and investor relations (IR) consulting to promote early growth. Among them, 13 startups with about 170 people will move into the Samsung Electronics Seoul R&D Campus and receive support for office space, meals, and various infrastructure.

Park Jinyoung, CEO of N.Dot.Light, selected for the 4th cohort, expressed his ambition, saying, "Starting with joining C-Lab, I want to draw a remarkable growth curve to face the rapidly changing world."

At this launch ceremony, Lim Junho, CEO of Petnow, and Kim Jiheon, CEO of Digisonic, who participated in the world's largest electronics and IT exhibition 'CES 2022' for the first time with Samsung Electronics' support, attended and shared their know-how on overseas expansion.

Park Hakgyu, President of Samsung Electronics' Management Support Office, said, "Innovative startups are an important growth engine for South Korea," adding, "Samsung Electronics will actively support the global know-how so that C-Lab startups can boldly challenge and grow on the world stage."

426 C-Lab Startups Nurtured, Targeting 500 Cumulative Startups Within the Year

Samsung Electronics introduced the in-house venture nurturing program 'C-Lab Inside' in December 2012 to spread a creative organizational culture and a 'challenge culture that does not fear failure' within the company. Since 2015, it has also implemented a spin-off system to allow excellent in-house venture projects to spin off as startups.

In 2018, to revitalize domestic startups and support entrepreneurship, Samsung Electronics established 'C-Lab Outside,' which opens C-Lab to external startups. 'C-Lab Outside' operates programs directly nurtured by Samsung Electronics as well as programs nurtured in collaboration with the Daegu-Gyeongbuk Creative Economy Innovation Center.

Samsung Electronics C-Lab Startup Participating in the World's Largest Home Appliance and IT Exhibition 'CES 2022'

Upon completion of nurturing, a 'C-Lab Startup Demo Day' is held by inviting investors and corporate officials to showcase each startup's achievements, providing opportunities for business cooperation and investment attraction.

Since 2018, Samsung Electronics has nurtured a total of 426 in-house ventures and startups (182 in-house, 244 external) through C-Lab, and plans to achieve the cumulative goal of nurturing 500 startups (200 in-house, 300 external) as early as within this year.

The 244 startups nurtured through C-Lab Outside have attracted a total of 430 billion KRW in follow-up investments. Notably, among the startups nurtured last year are ▲AI semiconductor company DeepX, which raised 21.1 billion KRW in 2021 ▲Bitsensing (imaging radar solution) and Platforce (mobile gift certificate issuance platform), selected as 'Baby Unicorns' by the Ministry of SMEs and Startups ▲DoubleMe (mixed reality metaverse platform), which launched a consortium called 'Metaverse University' with domestic and foreign universities, companies, and local governments, all of which are rapidly growing and producing tangible results.

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