"More Deadly Than an Asteroid"… Startups United Against Crisis

Introduction of Innovative Startups Tackling Crises, Over 1,000 Attend Bluepoint Demo Day

Lee Yong-gwan, CEO of Bluepoint, is delivering the keynote at 'Demo Day 9 Deep Impact' held on the 12th at Blue Square in Hannam-dong, Seoul.

[Asia Economy Reporter Kim Cheol-hyun] "A risk more deadly than an asteroid is approaching." This is what Lee Yong-kwan, CEO of Bluepoint Partners, said at 'Bluepoint Demo Day 9.' The name of the event where he took the stage is also 'Deep Impact,' taken from the title of the 1998 movie about Earth's asteroid collision crisis. The deadly threat that Lee, who leads the startup accelerator Bluepoint, considers more severe than an asteroid collision stems from climate change and population issues. This is also why Bluepoint invested in the 12 startups stepping up to overcome these challenges.

On the 12th, Lee said, "We must respond to climate change and the decline in the working population as much as we do to the crisis of an approaching asteroid," adding, "Messages emphasizing the inevitability like 'there is no second Earth' and 'soft solutions' that stimulate individual guilt cannot solve the crisis."

At Bluepoint's Demo Day held at Blue Square Mastercard Hall in Hannam-dong, Seoul, 12 companies were introduced that aim to predict and respond to a future that could suddenly approach like an asteroid. Bluepoint categorized the upcoming crises into four areas: environment, DT (digital transformation), industry, and housing. In the environment sector, Intocore Technology, WeMeet, and Nutri Industry took the stage. In the DT sector, LabNote, Duikeut, and InnerBuzz presented their business models. In the industrial field, QuantumCat, CryoHNI, and RTM showcased their companies. In the housing sector, SpaceWaveB, KL, and LiveAnywhere were introduced.

Specifically, Nutri Industry was introduced as a startup overcoming environmental crises. To solve the food waste problem, Nutri Industry proposes a solution that uses insects to eliminate wastewater and uses insects as feed for livestock. Hong Jong-joo, CEO of Nutri Industry, explained, "We are building the best team in mass insect farming, factory automation, plant design, and sales to turn possibilities into reality."

In the 'DT' sector, startups that efficiently transform inefficiencies in existing industries using digital technology were introduced. Choi Jong-yoon, CEO of LabNote, which provides integrated solutions for research data in bio, nano, and chemical fields, said, "The accumulated handwritten records over one year amount to 239 million, and researchers spend 416 hours annually on record-keeping. Using LabNote's digital solution, any researcher can easily reproduce experiments."

Bluepoint explained that all 12 startups on stage are companies with expertise capable of solving real problems. Lee emphasized, "Fundamentally, overcoming challenges must be achieved through technology. However, the process of technology becoming a solution is difficult. Performance must improve, economic feasibility must be secured, and it must be adopted in the market."

This event, held offline for the first time in three years due to COVID-19, had about 1,400 pre-registered attendees, far exceeding Blue Square Mastercard Hall's capacity of 1,200. This is because startups introduced at Bluepoint's Demo Days have shown high growth potential. Medical device company 'Plasmapp,' which participated in the first Demo Day in 2016, and bio company 'InventiLab,' introduced at the 2017 Tech Day with KAIST, are preparing for IPOs. At the 4th Demo Day in 2019, eco-friendly de-icing agent company 'StarsTech,' which utilizes starfish, and private space launch vehicle developer 'Perrige Aerospace' were introduced. Since its establishment in 2014, Bluepoint has invested in a total of 255 startups as of August this year, with their combined corporate value reaching about 4.0458 trillion KRW.

Lee said, "Having invested in over 250 startups, I have realized that true technology must align in performance, economic feasibility, and lifestyle to be welcomed in the market," emphasizing, "Although economic conditions are challenging, since recovery occurs cyclically, I believe startups' challenges must continue."

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