Top 10 Outstanding Startups from Changwon Achieve Record-Breaking Success at CES 2024 in the US

Ten outstanding startups from Changwon Special City, Gyeongnam, participated in CES2024 held in Las Vegas, USA, for four days from the 9th to the 12th.

According to Changwon City on the 15th, the 10 outstanding startups signed 15 MOUs and local contracts worth $10.59 million, achieving the highest amount among all years of participation and recording the greatest performance in history.

Group photo of attendees.

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CES, the world's largest home appliance and IT exhibition where future technologies can be previewed every January, featured the theme "All Together, All On" this year, focusing on the "AI convergence of industries." A total of about 4,000 companies from over 150 countries participated.

Among them, Korean companies numbered about 500, making it the third largest scale in the world. CES2024 was the largest ever since COVID-19, attracting approximately 130,000 visitors.

Among these, 10 companies from Changwon City participated in the integrated Korean Pavilion at Eureka Park, which hosted 186 companies from 24 institutions, showcasing future new technologies and attracting the attention of global visitors and buyers.

In particular, Changwon companies Gonggong, Hydrolux, and GSF System were recognized for their outstanding technological capabilities by the CES organizer CTA and received the CES2024 Innovation Award.

Looking at the achievements of companies participating in CES2024, SJ Solution, which introduced an IoT-based donut unit automation facility, signed contracts worth $1 million (about 50 units of equipment) with the US Moon Restaurant Group, $300,000 with Sweet Dots, and $400,000 with OLA Global, signing MOUs worth a total of $1.7 million on site and receiving proposals to establish a local factory in the US.

Additionally, CTNS, which introduced an electric battery exchange station (BBS) facility, was offered a business partnership with the US KU company for the production of cooling/healing system battery packs and battery cell supply. Following a supply contract worth 12 billion KRW with US Apteula last year, this year they also signed an MOU for establishing a local joint venture.

The Way, an AI and software specialist company, was proposed to develop a product that attaches sensors to glasses like Google Glass in collaboration with a Hong Kong IoT company, and signed MOUs worth a total of $2.9 million through an average of 62 consultations per day.

Neo Health Technology, which introduced an Indoor Exercise System, held consultations for a $2 million contract with Peru's CAHUANA company, and with very high purchase intentions from individual consumers on site, it is expected that direct sales will be active once the product is commercialized.

Oceans Bio, which introduced TaVNS (transcutaneous vagus nerve stimulator), attracted active visits from companies in the US and Europe as well as local investors, signing MOUs worth about $2 million with six companies including European distributors.

Pulsarock, which introduced RF EMP filter products, signed an MOU worth $50,000 with Thailand's P.M.K (a protective circuit manufacturer), and agreed to have detailed discussions in the future regarding the development of satellite and aerospace EMP filters with multiple companies including NASA in the US.

Miracle Air, which introduced the sleep bruxism management device "Goodeeps" and the AI-based implant care solution "Better I Care," received supply requests worth about $1 million from multiple companies in Japan, the US, and Mexico, and was proposed joint clinical research by a medical university research team in Italy.

In addition, during CES, the Changwon City joint pavilion attracted an average of 3,700 visitors per day, with continuous consultations from buyers.

They received proposals for future investment and collaboration and promised to proceed through detailed discussions.

This year, especially, three startups in Changwon City's medical bio sector?AI Biotics, Miracle Air, and Oceans Bio?signed investment cooperation MOUs with local investors M3 Global, LLC to attract investment.

CTNS signed an agreement with US Aptera to establish a local joint venture and jointly develop technology.

KNLED achieved the best results ever by signing a tripartite agreement with TJ LED SIGN and POLY USA for LED display exports.

Hong Nampyo, mayor of Changwon Special City, said, "Participation in the CES2024 Eureka Pavilion was a great opportunity to prove that startups in Changwon have global competitiveness," adding, "With the recent final approval of the Digital Masan Free Trade Zone designation by the Ministry of Industry, we will house outstanding startups with infinite potential suited for the 4th Industrial Revolution era in the 'Digital Masan Free Trade Zone' and provide unwavering support through continuous nurturing so that they can become the main players of Changwon's future industry."

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