BITBOX Launches Rewards Festival
DECENT Updates Wallet Ecosystem, Reduces Transaction Fees by 80%
Austria’s First 100% Transparent Charity Project Token4Hope Holds First Public Event After Helping More Than 45 Households
China-Korea Yantai Industrial Complex Press Conference
Swiss Companies DECENT & bardicredit Announce Plans to Launch the First EU-approved Tokenized Investment Fund
Citi Initiate BGBS with a Buy Rating and Target Price of HK$0.4
Alibaba Group Announces Executive Chairman Succession Plan
PChome Hosts First Investor Day of 2018 to Unveil New Management Team and Strategic Initiatives
Comviva’s mobiquity Money crosses 100 Million Mobile Money Customers
Comviva’s mobiquity Money crosses 100 Million Mobile Money Customers
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SpherePay, Singapore FinTech Company Open Its Cryptocurrency ICO Today, Releasing 4 billion SAY Tokens For Sale
Singapore homegrown mobile payment app company SpherePay officially opens its Initial Coin Offering (ICO) or also known as Initial Token Sale today. Earlier this month, SpherePay announced that it will launch a total of 10 Billion SAY token, of which, 40% will be distributed for sale via ICO. According to their spokesperson, on the day of the announcement of its introduction of SAY, the official token for SpherePay' s cryptocurrency, the company has already received many inquiries from interested buyers from all over the world, from Japan to the United States and many more parts of the globe. "During our pre-sale period, we received many inquiries and show of interest through our Telegram Community Group, Facebook Messages and Emails. We are responding to all inquiries as fast as possible. We will increase the number of our service team immediately to better respond to all inquiries." Said Mr Joseph Chen, CEO of SpherePay. In recent years, the fintech industry have seen a booming growth in the number of cryptocurrencies launched and ICOs happening. SpherePay aims to be in a different ballgame altogether. Their company mission is to revolutionize the entire global peer-to-peer trading ecosystem by being the first in the world to link virtual currency assets to real life via a decentralized sharing economy. This meant that SpherePay's users can utilise their cryptocurrency SAY and others to make actual purchases via the mobile app. "One of objective of us introducing SAY is to solve a problem which has been around for quite some time, it is to transact cryptocurrency in real life. By having SAY on our mobile wallet app SpherePay, we allow users to use our SAY cryptocurrency and other cryptocurrencies to purchase any item in real life via our app. We will soon share with the public how this can be done, via our app. We plan a full "up and running" completion of this integration project by beginning of March, so its not that long from now. Public however can get the SAY token starting from today" Continued the CEO. Starting from today, interested buyers and investors can purchase SAY via exchanging Ethereum (ETH) tokens to SAY tokens on cryptocurrency digital wallet such as MyEtherWallet, ImToken or other wallets which are ERC20 compatible. Buyers and investors are advised not to use any other exchanges to transfer the ETH, only transfers via the digital wallets will be accepted. The current exchange rate of ETH to SAY is 1 ETH to 80,000 SAY and minimum contribution is 0.5 ETH with no personal cap. 50% of SAY purchased in this ICO will have a lock in period until 5th April 2018. The SoftCap for this ICO will be 2 Billion SAY and the ICO will end once it reaches their HardCap. Interested buyers who are not familiar with purchasing cryptocurrencies or have further questions can join the company's official Telegram Community Group at @SAYOfficial. All questions will be answered by the SAYOfficial admin. Alternatively, public could also visit the website at say.spherepay.com to find out more information about SAY token.
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JD.com and Fung Retailing Form Artificial Intelligence Partnership
Fung Retailing Limited, with a network of over 3,000 stores, and JD.com (Nasdaq: JD, JD.com or JD.COM), China's largest retailer, today announced a partnership to develop AI-driven retail solutions. According to the agreement signed today, the two companies will cooperate in using AI to transform the retail landscape, and to collaborate in areas including AI platform development and the application of AI to smart retail. The agreement calls for the establishment of an AI Boundaryless Retail Center that will oversee and manage cooperative research and development projects, and facilitate the sharing of information and expertise relating to AI technology. Leveraging AI, and combining JD.com's extensive online expertise and Fung Retailing's offline expertise, the two companies aim to develop a new retail format for China and Asia. This includes creating an AI-driven retail system that seamlessly integrates online and offline retail platforms; developing an end-to-end system that enables the management of products, pricing, storage, order and payment; and enhancing consumer experience through solutions such as AI-driven virtual fitting, unmanned stores and smart shopping assistants. Speaking at the signing, Sabrina Fung, Group Managing Director of Fung Retailing Limited said, "When it comes to the future of retail, and driving the customer experience, AI is an essential component. Across our retail portfolio, AI is a focal point and this co-operation with JD will, without doubt, accelerate our progress." Bowen Zhou, Vice President of JD.com and Head of JD's AI Platform and Research said, "As one of the largest retailers in the world, we believe that figuring out how to deploy AI solutions is critical to our future success. Drawing on Fung Retailing's global offline retail expertise, this partnership will be important for us as we deliver our retail vision." Other areas of focus within the agreement include cooperation on the construction of AI infrastructure, as well as smart retail, creating AI-driven solutions that break down the barriers between online and offline, and exploring the intersection of AI and fashion.
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SpherePay, Set To Launch Its Own Cryptocurrency called SAY In Partnership With ODYSSEY (OCN)
South East Asian leading mobile payment platform SpherePay is set to launch its own cryptocurrency in the coming few months. The Singapore founded, and homegrown company will introduce the world's first shared economy blockchain platform in working partnership with ODYSSEY (OCN). This sets another astonishing milestone for a Singapore based company to introduce a new technology on the global scale. Having earlier announced its biggest partnership with oBike that saw the company acquiring over 5 million users in South East Asia, SpherePay has up its game by venturing into the cryptocurrency arena. Within a week of its previous funding round, SpherePay has secured yet another strategic investment from ODYSSEY (OCN), a sharing economy blockchain project initiated by the founding members of Obike. ODYSSEY (OCN) is also the only provider in the shared economy of blockchain project in South East Asia for cryptocurrency transactions. The investment amount was not disclosed. According to SpherePay's development plan, the company will officially open the encrypted currency wallet and QR code payment function in March 2018. This new development will see SpherePay as the only mobile payment platform in the world that enables the virtual currencies to be transacted in real life. This means that users will be able to spend their cryptocurrencies to purchase everyday items via the SpherePay app. The app e-wallet will support various cryptocurrencies such as Bitcoin, ETH, SAY, OCN and others. Users will now have more mode of payment options from credit card, debit card, SpherePay's Advanced Credit to cryptocurrencies, all stored in one e-wallet. "We look forward to bringing premium cryptocurrencies to the real world with SpherePay's fast-paced ecosystem of blockchain and cryptocurrency which will cover over 400 million people in South East Asia. This innovation will enable our users to pay for their purchases using cryptocurrency whenever they need it." said Mr Joseph Chen, CEO of SpherePay. Accompanying this initiative, SpherePay will launch its own cryptocurrency and official token called SAY, with its ticker symbol as SAY. Its Whitepaper has been released on their official website. SAY is an ERC20 token and ETH ERC20 wallet compatible. The company will release a total of 10 Billion SAY tokens, within this, 40% will be offered on ICO. The company will announce SAY's Initial Coin Offering (ICO) within the next two days, releasing over 6 Billion tokens to the market. Public can subscribe to receive the token during its ICO via the official website at say.spherepay.com
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Arsenal Football Club signs world-first cryptocurrency partnership with CashBet Coin
CashBet has announced a landmark partnership with Premier League football club Arsenal FC ahead of the Initial Coin Offering (ICO) of its new cryptocurrency, CashBet Coin designed specifically for iGaming. The first-of-its-kind deal, which makes CashBet Coin the club’s exclusive and official Blockchain Partner, sees Arsenal become the first major team in world football to officially partner with a cryptocurrency. The agreement will give the CashBet Coin brand prominent placement via in-stadium advertising channels for Arsenal home Premier League games at Emirates Stadium. Vinai Venkatesham, Arsenal’s Chief Commercial Officer, said: “We are pleased to welcome CashBet Coin as our partner. We are looking forward to working with CashBet Coin as they launch their new cryptocurrency.” Dr. Mike Reaves, CEO and Founder of CashBet, said: “With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players. “We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way. “Designed specifically for iGaming, CashBet Coin will improve the online experience for real money, casino, social, skill-based, eSports and sports betting players through increased trust and transparency, faster payouts, reduced fees and dedicated player protection.” The ICO presale will begin on January 24, 2018 at 5:00PM GMT and end on February 20 at 5:00PM GMT, followed by the public sale beginning on March 20 at 5:00PM GMT and continuing until April 27 at 5:00PM GMT.
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Mid-summer tech trade show will move to the Jacob K. Javits Convention Center in June
CT Lab Global Media has just announced that its official mid-year conference and technology showcase, CE Week, will take place June 20th–21st at the Jacob K. Javits Convention Center in New York City. The change in venue was a decision made shortly after the creation of CT Lab Global Media, a new business entity. The new company is the result of a partnership between IFA, the world’s largest consumer electronics show, and NAPCO Media. In 2017, IFA hosted 250,000 visitors, more than 1,800 exhibitors in more than 1.7 million square feet of sold-out floor space at its annual Berlin-held exhibition, solidifying its role as the leading showcase for the global technology industry. CE Week producer NAPCO Media is a U.S. business-to-business media company and the publisher of Dealerscope, Technology integrator and Connected Design. The selection of the Javits Center, known as a top-tier U.S. venue for hosting many globally significant exhibitions, also signals a pivot in emphasis that is consistent with IFA’s longstanding mission as a world-renowned producer of buyers’ events. CE Week 2018, in line with that, will represent a transition from a predominantly media-oriented show with a retailer presence to a retailer-/distributor-oriented buying event with a media presence. CE Week powered by IFA will remain, as ever, geared towards leaders in the consumer electronics industry, but will now provide a midyear forum for the global retailing and distributor buying communities to conduct actual business with Vendors, in addition to being a gathering place that fosters new relationships. The tradeshow is also the ideal event to generate excitement around upcoming products for the back-to-school and holiday shopping seasons. “We are excited about the opportunity that creating this new alliance affords IFA, and about working with our U.S. partners, who have already established CE Week as a solid foundation. We look forward to building upon that foundation together, bringing to CE Week all of IFA’s strengths to create synergies that will leverage the expertise of our global reach, and that will serve the American CE retailing community even more effectively,” said Jens Heithecker, senior vice president of Messe Berlin Group and IFA Berlin executive director. As it always has in its 11 years, the event will give exhibitors the opportunity to showcase products to the tech industry’s most influential journalists and to meet with key industry partners, channel representatives, and investors. Participants in the show’s history have included LG, Sharp, Pioneer, Samsung, Sony, JVC, Epson, Harman, Kodak, Tiffen, Westinghouse, Onkyo – all of whom are now part of the CE Week Alliance, with right of first choice for premiere booth locations once the show layout is finalized next month. Along with exhibition of new products, the tradeshow showcases numerous conference sessions, awards ceremonies, and networking-themed events. “By way of the new partnership, CT Lab Global Media intends to enrich CE Week with IFA’s strategic show management style. Just as IFA is a core meeting place for key retailers, buyers, and distributors from the industry and the media, CE Week intends to follow the same mantra,” said Eric Schwartz, executive producer of CE Week. Last year, CE Week introduced the Retailer Meetups – a unique networking event that enabled leaders from across the consumer tech spectrum to connect, exchange ideas, and build relationships by way of one-on-one meetings. Of those surveyed at the event, 100 percent expected that some or all of the relationships forged at the CEWEEK Retailer Meetups would be useful to their business in the next 12 months. To add further growth to the Retailer Meetups, IFA said it will add key global retailers, distributors, and buying groups to the event. The Retailer Meetups will be held on June 19th, the day before CE Week exhibits open. CEWeek 2018 will take place at the Jacob K. Javits Convention Center, June 20th-21st, 2018. For more information, please visit www.ceweekny.com or call Eric Schwartz-Executive Producer +1 215-238-5420 or email: eschwartz@napco.com
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day ‘Company IR’ – SKYMAP
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. In this event, 6 start-up companies supported by Seoul Center for Creative Economy and Innovation are presented to their company and business items. SKYMAP (CEO: Daewook Jeong) introduced their ‘3D Web GIS Engine’ develop supported by Seoul Center for Creative Economy and Innovation. SKYMAP’s High Quality Three Demensional Web GIS Engine implements Repetive Pattern of Texture using computer vision and deep learning. This Web GIS engine will be used at Smart City Solution, 3D game and VR/AR ▲ SKYMAP introduced their 3D Web GIS engine through this ‘Company IR’ events. ▲ Already, they have some experience of develop 3D GIS engine for web services.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day ‘Company IR’ – AMBITIONEM
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. In this event, 6 start-up companies supported by Seoul Center for Creative Economy and Innovation are presented to their company and business items. AMBITIONEM (CEO: SUNGBIN KIM) introduced ‘DIY backpack’ of their own ‘AMBITIONEM’ brand develop supported by Seoul Center for Creative Economy and Innovation. AMBITIONEM is a world map backpack which marks the countries you have been traveled. This product is available in two sizes, 60 liters and 40 liters, depending on the itinerary or body type. Customizable colors for the map on the backpack are gold, silver and national flag colors. ▲ AMBITIONEM introduced world map backpack which marks the countries you have been traveled.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day ‘Company IR’ – LEEDEYEON
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. In this event, 6 start-up companies supported by Seoul Center for Creative Economy and Innovation are presented to their company and business items. LEEDEYEON (CEO: Yeontaek Lee) introduced their ‘Aromize’, the smart converged diffuser, develop supported by Seoul Center for Creative Economy and Innovation. Unlike the standard diffuser that only diffuse one kind of scent constantly, Aromize, the smart converged diffuser, is a device that users can choose the scent due to their mental state and moods. Aromize is a device that can be installed with various capsules of scent. If necessary, the scent can be easily changed by one button. ▲ LEEDEYEON introduced ‘Aromize’, the smart converged diffuser. ▲ LEEDEYEON’s products are displayed in showcase space of this demo day.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day ‘Company IR’ - Axleless
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. In this event, 6 start-up companies supported by Seoul Center for Creative Economy and Innovation are presented to their company and business items. Axleless(CEO: Sir, Moonseek) introduced their ‘Axleless-motor’ develop supported by Seoul Center for Creative Economy and Innovation. The ‘Axleless motor’ which motor included impeller have most simplified structure and provide economical and efficiency. Also, it can be applied to a vacuum cleaner, pump, or electric boat propulsion device. ▲ Axleless introduced their ‘Axleless-motor’ included impeller. ▲ Axleless displayed their technologies through video materials in showcase space of this demo day.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day ‘Company IR’ - VRANI
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. In this event, 6 start-up companies supported by Seoul Center for Creative Economy and Innovation are presented to their company and business items. VRANI (CEO: Hwi Young Chung) introduced to develop VR contents for kids business supported by Seoul Center for Creative Economy and Innovation. VRANI make kid-friendly VR games using UX/UI and game play dedicated for children aged 3 to 11, with adorable character TToring. Their business model is to expand into the location-based VR market, which is anywhere families with kids go, such as shopping malls, theme parks, movie theaters, family restaurants and more. Its plan is to expand our VR content into immersive education, movies, animation and merchandising business, and ultimately, building a VR platform for kids. ▲VRANI introduced VR contents for kids business ▲VRANI prepared the system to experience their VR contents in this demo day’s space.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day ‘Company IR’ - UnitySoft
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. In this event, 6 start-up companies supported by Seoul Center for Creative Economy and Innovation are presented to their company and business items. UnitySoft(CEO: Youngsaem Ahn) introduced 'C2M', which synthesizes and generates MRI images with CT images, business supported by Seoul Center for Creative Economy and Innovation. ‘C2M’ is the software to generate MRI images based on CT images, and 'C2M' deep learning model that synthesizes MRI image with CT image is prepared and it is based on GAN (Generative Adversarial Network). UnitySoft has set a goal of 'C2M' as a secondary goal to provide information on whether to additionally take an MRI in the presence of only CT images, and it is developing tools to replace full CT or MRI. ▲ UnitySoft introduced 'C2M', which synthesizes and generates MRI images with CT images. ▲ They show demos to generate MRI picture from CT by their C2M system.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day Selected Company Exhibition & Networking
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. In this event, 140 foreign big buyers, 20 WTC member companies, 900 domestic export companies and 100 PPL companies participate in consultation activities and incidental events. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. A total of 19 companies selected through the recruitment of participating companies participated in the event. Targeting domestic angel investors, accelerators, and VCs, incidental events including "Company IR", in which six companies conduct their own IR, "Selected prototype exhibition", which discloses the products produced as a result of the performance, "Startup representative lecture", which presents success stories of excellent startup representatives among graduate companies, and "Networking", held for exchanges among attendees such as selected company representatives, accelerators, investors, center employees, and visiting buyers. As a final event of "2017 Startup Challenge Platform Demo Day", the time for exhibition and networking of selectors and companies are prepared. In the exhibition space that was held together in the IR event hall, the introduction of products and business were conducted. Through the networking time provided at the last time of the event, the networking and consultation between the graduate companies and the selected company were conducted. ▲ A final event of "2017 Startup Challenge Platform Demo Day" was progressed with the time for business, product exhibition and networking of participant companies. ▲ It was time to inquire about the items that were interested and to plan networking. ▲ Since it was right after the lecture by graduate companies, their interests were high. ▲ The networking time of this event is noteworthy that not only companies but also various entities gathered. ▲ There was also a spaces where a brief introduction and demonstration of technology was possible. ▲ Technology that can not be exhibited directly was introduced through video. ▲ In some cases, the product was prepared to be experienced on the spot. ▲ The demonstration environment of VR contents which was popular in G-Star was prepared with considerable effort.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day: Lectures by Graduate Company CEOs
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. In this event, 140 foreign big buyers, 20 WTC member companies, 900 domestic export companies and 100 PPL companies participate in consultation activities and incidental events. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. A total of 19 companies selected through the recruitment of participating companies participated in the event. Targeting domestic angel investors, accelerators, and VCs, incidental events including "Company IR", in which six companies conduct their own IR, "Selected prototype exhibition", which discloses the products produced as a result of the performance, "Startup representative lecture", which presents success stories of excellent startup representatives among graduate companies, and "Networking", held for exchanges among attendees such as selected company representatives, accelerators, investors, center employees, and visiting buyers. At 'Lectures by Representatives of Graduate Companies', Lee Seung-min, CEO of BLUEREO, and Ryu Jun-woo, CEO of Red Velvet Ventures. gave lectures on the main items of the company, the process so far, and advice for other start-ups. BLUEREO is aiming at the niche market between the electric toothbrush and the suction toothbrush through the new concept toothbrush 'Oral Clean' with the suction function. 'Bomapp' of Red Velvet Ventures is a service which allows to see collection of user's insurance information in one view, manages it, and utilizes for the general users and insurance planners. ▲ Lee Seung-min, CEO of BLUEREO. Lee Seung-min, CEO of BLUEREO Inc., said, BLUEREO 's items is an electric toothbrush that can suck in gargling water that cannot be spit properly with the electric toothbrush function to the socially weak people such as the elderly or the handicapped who can not brush themselves. It is introduced that, during the 6-month challenge program, the company received support for mockup, R&D projects, KIPS, and video production as connected business. This connected support could be done through checking confirmation of the eligibility or condition for priority selection. BLUEREO also received various proposals such as going on Demo Day and attracting investment by connecting to VC. In these cases, KIPS was chosen, and every company has different forms of investment, but BLUEREO received investment in the form of redeemable convertible preference share. On the other hand, he received advice that "It is expected to be a lot of fund formation next year, and if funds are run out afterward, get your breath back and invest when the funds are created." It is emphasized that starting with good people, making what customers want, and saving money are important during Seed or investment before Pre-A. Especially, he highlighted that 'person' is important. When passing every step such as seed investment, Pre-A, or Series A, the required IR data is different because the information needed for the review is different, and it is important to emphasize possibilities and verification when seeding. For investment, the team, item, and market aspect are important. In the case of the team, BLUEREO started the business alone, felt thirst for the team members, and scouted people around him. In addition, judges at Demo Day or a contest may be mentors, investors and buyers, and they have become mentors by responding to inquiries about favorable opinions. BLUEREO had done incorporation transition in March 2016 and founded the company with a person who is from a large company, who could supplement the technical part or who worked for a long time in the venture. Moreover, he pointed out that the subsidiary of the patent corporation is included as a unique point for the shareholder composition, and he commented that it contributed to the legal process, such as patent, in preparation of the product. At the same time, recruiting people also takes a big portion in business for startup, so he recruited experienced personnel, such as designers for ergonomic design and public officials from the Ministry of Health and Welfare according to the characteristics of the B2G business. On the other hand, the trial and error of development and the problems in production are completely different, and they also suffered from quality problems in early production. The company has introduced more than one revision of all molds and produced products in the third quarter, firstly supplying products to long-standing customers, and most of the current quantities are being exported to France. The company is also developing people's oral healthcare monitoring services, and even global large companies are not working on this. ▲ One of the unique aspects of BLUEREO's history is its initial investment attraction. Currently, there are no products similarly used like BLUEREO's product in markets, but there are two categories of products with similar characteristics. This is impressively accepted to VCs since it has a broad range of accessible market. Also, for this, there is a need to analyze and introduce the whole market, valid market, target market, and the base market that can enter right now. In case of BLUEREO, it is a clear example of strategy to niche market. The competitors for electric toothbrushes and mouthwashers are well-known global companies, and the competitors for suction machine and suction toothbrushes are medical equipment companies, but both sides are not direct competitors. The results of the IP R&D project showed that about two thousand patents related to patent analysis, R&D roadmap, and patent attack avoidance strategies were confirmed. It is found that most of the patents are about the spray and vibration functions. In addition to the inhalation function, which is now a blank patent, some companies have set up the pattern analysis and remote medial treatment part, which are pioneering new markets, as a future technology development area. He added that there would be a possibility of cooperation with universities, not companies. Meanwhile, at present, the total number of IPRs of BLUEREO is about 52, and SYP Patent Law Office, a stockholder, dispatches and supports patent attorneys with investment costs. The technical support other than financial support is effective at the seed investment stage. VCs conduct confirmation of technology, patents, and products as well as feedback and market research before investment, and it is emphasized that BLUEREO judged these feedbacks significant from the initial stage. BLUEREO has observed the daily life of people with disabilities through volunteer activities, collected feedback from customers, reflected on the products and responded to the market. Moreover, VCs require data on whether it had relevant effects and feedback when the product went into the market. On the other hand, BLUEREO's products are classified as assistive technology device and welfare equipment business in Korea from B2G model, and there is a characteristic that government subsidies are offered for product prices. In addition to health insurance, BLUEREO said it is promoting cooperation with Japan to advance into the care insurance market. As a result, cash flow and product sales have risen to a certain level, but before that, consumers and purchasers are less likely to have room to spare. So, the company is increasing line-ups through differentiation strategy. Meanwhile, he added that competitors can become customers through participation in various events. BLUEREO has been supplying products by receiving orders worth about 1.3 billion won at the time of incorporation transition. This was possible even though the company was start, because when the B2G model enters the government, manufacturers and sellers enter consortium, and the sole distributors and exclusively sale parts are naturally formed. Moreover, selecting partners for each market has a positive impact on initial investment. Also, European market is characterized by not only welfare budgets but also subsidies from private insurers. They are trying to divide the market to do business with key players, and there is a need to invest in product research to expand the market to the general public or infant markets. As advice related to investment, it is introduced that "take it when you can" most of the time. He also advised, receive investment as much as possible until reaching a stable orbit even for responding to the unexpected problems, but a careful review is required when negotiating, and the investment should be used for a purpose and systematically. VCs seem to want an appropriate stake in their investments, and VCs that initially invest in are likely to take the lead in sequential investment. In addition to this, as for provision of preferred stock in investment, it could be policy for each investment company and there may be some tiresome parts due to the management intervention of VCs. There is no reason not to take the investment, and it could be built as relationship for cooperation by utilizing situation well. Also, he advised that an investment contract must be received and reviewed in advance. ▲ CEO Ryu Jun-woo of Red Velvet Ventures Ryu Jun-woo, CEO of Red Velvet Ventures Co., Ltd., has been servicing "Bomapp" app since February 2017, in which users can check and claim all the insurance information that users registered with only mobile phone authentication. The company secured more than 300,000 users without marketing, and has recently invested 3 billion won with Series A. In addition, he worked in Seoul Guarantee Insurance and decided to start a business. He had a lot of worries about solving his thoughts on insurance, so he accumulated experience by changing his career to a startup and established corporation with co-founders. The first business model they thought was to transfer the photo of insurance certificate to the data and manage, but this method was not successful since it received bad response. The preparation of a new model had to go through a difficult period like ‘death valley’, but at that time, support from accelerators of large companies was active, so the company could receive various supports. He was worried about the investment a lot. VCs judged by their own experience, and insurance is the area where user experience is clearly divided. He also added that there was a coincidence that the introduction video created by the accelerator appears on SNS and an investor visited him. He said that which VC you meet is important, and there are VCs that are interested in this business somewhere. It depends on how you prepare for the process until you meet them, but this process is not only just meeting. He personally uses Facebook as PR channel, and he stressed to CEO of startup the need for promoting their services from the most accessible channel, which is SNS. In the early days, a relatively small investment, such as a 6-month challenge platform or accelerator, was used well. After the service was released, it grew rapidly, and the situation became more flexible. ▲ It is introduced that the presentation for VCs consists of life experiences, expertise of members, and then problem solving strategies. Meanwhile, Red Velvet Ventures has been a structure where CTOs and CFOs have been working together since early on, and this could prevent CEO from losing the essence of the business when doing a lot of related paperwork, investment, and HR. Investors invested after looking at the team, and in the process of negotiating the terms of the contract, the presence of the CFO also raised the value of the team. Even if the CEO can do this, it is recommended to co-found with CFO who is fluent in this area. Likewise, what CEO needs to focus on is attracting investment and recruiting good members. They went through a 6-month challenge platform, met many good teams, and proceeded collaboration during workshops at CCEI in Seoul. They said that networking within it could be a great help for the future business. In addition, to shape the ideas and to absorb good members, CEO should be free. To do so, gathering good members from the beginning or joining good co-founders will eventually lead to faster growth. The service was introduced that it scraps and implements insurance companies' homepages in their own way, and moved the process of customers' confirmation of insurance coverage to mobile. In order to organize the field values visible in the app, different interfaces are implemented to each insurer, and a subscription model for insurance planners was introduced as the profit model. Now, it is a difficult situation to collect insurance policies from customers, but it is a subscription model that enables certified designers to check customer information. Also, marketing starts from what insurance planners across the country recommend to their customers.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day Connected Business Briefing Session
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. In this event, 140 foreign big buyers, 20 WTC member companies, 900 domestic export companies and 100 PPL companies participate in consultation activities and incidental events. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. A total of 19 companies selected through the recruitment of participating companies participated in the event. Targeting domestic angel investors, accelerators, and VCs, incidental events including "Company IR", in which six companies conduct their own IR, "Selected prototype exhibition", which discloses the products produced as a result of the performance, "Startup representative lecture", which presents success stories of excellent startup representatives among graduate companies, and "Networking", held for exchanges among attendees such as selected company representatives, accelerators, investors, center employees, and visiting buyers. At '2017 Startup Challenge Platform Demo Day', the sessions to introduce various support projects of Center for Creative Economy and Innovation (CCEI), are prepared for startups. In this session, major projects focusing on the business plan of 2017, which is currently in the final stage, were introduced. Many of these projects are expected to continue in 2018 with similar characteristics. In addition, the session provided an introduction to how startups can utilize various connected businesses. ▲ Song Yong-jun, general manager of startup promotion division in Seoul Center for Creative Economy and Innovation Song Yong-jun, general manager of startup promotion division in Seoul CCEI, introduced about the connected business of CCEI in 2017. Although the introduction of the business is about the last 2017, it might be an opportunity to guess the direction of the future when considering the current government's keynote. The business plan for 2018 will be decided by the end of the year. After preparation of the connected business, the place for introducing it at the center will be prepared in March to April as they have done every year so far, and he expected to start in April. CCEI is working on linking and collaborating with government related projects to effectively support startup and business growth step by step. In 2016, 20 projects from the four ministries were conducted at a total of 252.2 billion won, and in 2017, the number of projects from six ministries was expanded to 24. In this regard, government policy has a direction to expand startup support, and CCEI is expected to continue to play a role in its position as a startup hub. In terms of the connection of each subject, it is found that the connected business also increases and the role of the center will be important. In 2017, the project budget amounted to 97.8 billion won, and 256.7 billion won in connection and collaboration. Among them, 19 consortiums and smart factories are included in direct consignments, so the actual execution scale of CCEI was just under 50 billion won. In addition, ‘Connection and collaboration’ is the tasks that center just connect and support, the center does not progress directly to. On the other hand, as the selection criteria of the linked projects, concrete business beyond the level of cooperation with a simple human exchange between ministries, and whether there is a substantial link in the program unit are suggested. ▲ Changes for each major business in 2017 are briefly introduced. In terms of changes for each business in 2017, a direct consignment businesses such as '6-month Challenge' and accelerator connected supporting are not confirmed yet, but the '6-month Challenge' project is known to be considering support in some way in the future. In 2016, Research Foundation made selections while each center gathered apply, but in 2017, the method has changed to make a selection from each center by itself. The Seoul Center has been selected separately from before, but this year, there was a part to be selected in cooperation with Creative Economy Town. 'Smart Factory' is to support automation and intelligence of existing factory facilities. In 2017, its budget has been expanded, and in 2018, discussions are under way on the subject of change in operation. In 'Integrated Mentoring' project, the scope of education object has expanded to towns, mentors of other institutions, center operational manpower as well as mentors of Innovation Center. In 'Investment-linked type enterprise growth R&D', only center-fostering enterprises were supported until last year, but starting this year, the target has been expanded to enterprise with transfer public technology, investment company, crowdfunding attracting. Therefore, if there is an opportunity such as transfer public technology, it will be utilized for the qualification of supporting project. In 'R&D Enterprise, Startup Growth' project, inclusion of preferential indexes for the discovery of innovation center incubating enterprise in the performance index of private TLO (Technology Licensing Office) and priority recommendation to the center incubating enterprise as a global accelerating program supporting target are pointed out as major change points. Moreover, in 'Creative Fusion R&D, Quick Support to Industrialization' project, the innovation center participated to regional consultative group that selects the support targets, and this part is expected to continue in the next year. In terms of the additional points of applied tasks to the incubating center, Creative Fusion R&D got five points from three points, and Quick Support to Industrialization got additional three points. In TIPS, TIPS operators do not deduct operator's recommended TO when recommending Innovation Center incubating company, so it can reduce operator' s burden on recommendation of Innovation Center incubating company and apply TIPS more advantageously. In addition, the Seoul Center was selected as a task planner in the 'Re-challenging Technology Development' project. So, it supported the advancement of the business model through mentoring, and received some comments that, although it has shortage in regional specialization, it is performing well on other parts. Besides, Pohang and Bitgaram Center are operated by private autonomy, and these centers will promote participation in the connected support project. ▲ A total of 7 consignments were carried out by the Center. At the current state of the connected business of the Innovation Center in 2017, a total of 7 projects have been conducted by direct consignment businesses. Among them, the '6-month Challenge Platform', which focuses support for 6 months to commercialization of ideas of startup companies for pre-founders or having experience less than one year, selected 55 teams last year. However, this year, a total of 22 are supported. That is, they are divided around 10 for each center, and Seoul Center supported 12 through connection with Creative Economy Town. Meanwhile, although the '6-month Challenge Platform' will disappear in the coming year, it may appear as a new program. It is a program that is just as relevant to the role of the center, so it is expected to appear next year. Accelerator connected support projects usually selects 8 to 10 candidates, and accelerators progress investment to about four of them. The investment amount is introduced to be about 30 million won per company usually. And this year, each center is matched with accelerators, and in case of Seoul Center, it had applied with Sunbo Angel Partners. Meanwhile, the project has a feature that can be taken over by a graduate company from 6-month Challenge Platform. It is currently being announced as a project running until this year, but since there is a direction for strengthening the functions related to the accelerator next year, the related opportunities could be expanded. 'Innovative Job Leading' project supports the process of making ideas into business models and business model development as well as employment matching through network operations in which local companies, professionals and employment support companies participate. In addition, 'Spread of Smart Factories' provides cost support for the advancement of factory facilities, and Samsung Electronics is participating with the support of 7.5 billion won. 'KT Win-win Supporters Program' is a form in which KT appears and operated by Kyunggi-center to support global advancements. This year, there were a lot of collaborative efforts with national innovation centers, and many other incubating companies were supported. Next year, it is introduced that the expansion of customized support projects, which were good in this year, is being discussed. ▲ A total of four function support projects are prepared. A function support project of the center has 4 functions. Among them, establishment of the integrated mentoring support system progresses dedicated mentoring targeting companies that enter the incubating center until October or graduate the center, through mentors of integrated mentoring operated by the center, and mentoring day once a month with mentors, entering companies, and graduate companies. However, there are problems such as very hard to arrange schedules between mentors and mentees, and for the purpose of expanding the object of support, 'Dedicated-Mentoring and Mentoring Day', which was held in November and December, received mentoring applications for 6-month challenge platform and graduate companies. It is introduced that it also received applications through matching mentors inside the center or liaising from outside, and progressed a program for 3 to 6 hours. In the future, it is added that mentors who are invited from outside by companies will be formed to form a mentor group so that they can support other teams. In legal support, legal, financial and patent parts are supported through 'one-stop zone', and there is also a business about consulting services by the resident lawyer, as well as introducing lawyers in connection with the center and supporting a part of the litigation expenses. Patents-related consultations are conducted once a week at the regional intellectual property center, and to some good ideas, application support and consultation on disputes are provided. In addition to this, counseling on financial matters is also provided. In this year, there was a case that an official dispatched from the Korea Credit Guarantee Fund and has been mentoring all the time. Since November, the counseling has changed be conducted once a week due to the small number of consultations, and it is expected that the number of consultations will increase if the demand increases. There are a total of thirteen connected support projects, and the Seoul Metropolitan Center is excluded from some projects related to regional specialization. Among them, 'Investment-linked type enterprise growth R&D' is a business that supports R&D fund by attracting investment from a designated investment organization. It is a business that can be connected after accelerator support, and the center plays a role of recommending support targets. 'Support for Research institute and Startup Growth' supports the commercialization of regional public technologies and the establishment and growth of research institutes. The center recommends the candidates to be supported through the qualification examination of the companies, and it is explained that the activities such as creating prior consensus by collaborating with investment institutions will be advantageous for selection. Through global innovation centers in Berlin, Germany, in China, and two in US, a total of four centers, KIC support provides startup support program for each base for the creation of local base for global advancement and expansion of activities. Besides, 'Rapid commercialization support' is supported through Techno Park, and it supports up to 20 million won and rapid commercialization for selected teams after receiving applications for every month and then evaluation. In the utilization of Techno Park, the Center and Techno Park have a relationship like a form of connecting to the next step with the initial company. ▲ There are a total of 13 connected supporting projects. The center mainly has a role of recommending candidates to be supported. TIPS program is a program that is expected to be of great help in commercialization as up to 500 million won of technology development funds and up to 400 million won of startup funds are supported to excellent startup companies in which an operator invested 100 million won. In addition, it is mentioned that there are many TIPS operators among center-connected accelerators, and Demo Day, which was originally conducted on the existing investors, will be expanded to accelerators or VCs. Also, 'Visiting Demo Day' will be progressed. Besides, the support project for development of startup growth technology provides a cost of about 100 million won. The creative innovative type re-challenging technology development support project supports development of new products by comeback small and medium-sized enterprises, which are difficult to participate in general R&D projects, and the project is expected to expand opportunities in accordance with the government's policy direction in the future. Moreover, as for employment creation-related project connected to the Ministry of Employment and Labor, it is recommended to get counseling or utilize consultations in job offerings and joint consultations through Matching Day, since there might be a program which can support for employing new employees. Meanwhile, the overall business schedule starts from February to March, emphasizing the importance of communication. In terms of business systems linked to the Innovation Centers at each stage of growth, each of the support projects is matched at the stage of startup, growth and leap in the pre-startup. At the 'startup' phase, where most of the participants are involved, the 6-month challenge, accelerator, investment-linked R&D and startup growth R&D projects are considered. On top of that, rapid commercialization support for marketing or rapid commercialization, KIC support project in global advancement, and smart factory supply project for SMEs will be also continued. ▲ The various businesses that have been introduced are structured and connected to this extent depending on the location of the company.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day 'Company IR' Field Report
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. In this event, 140 foreign big buyers, 20 WTC member companies, 900 domestic export companies and 100 PPL companies participate in consultation activities and incidental events. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. 'Company IR,' one of the main events of '2017 Startup Challenge Platform Demo Day', is prepared for the selected companies to introduce their outcomes, targeting domestic angel investors, accelerators, and VCs, and 6 companies participated. ▲ 'Corporate IR' was held as a morning event of '2017 Startup Challenge Platform Demo Day'. The first company, Leedeyeon, is aiming to build a design cloud resourcing platform. It developed the first item, Bluetooth speaker 'Cork Speaker', to mass-produce and sell. The product, which is being prepared through the ‘2017 6-month Challenge Platform’, is a smart diffuser device called 'Aromize' that allows users to change fragrance in real time. This product features a variety of effects such as sleep, concentration, relaxation can be changed by the user in real time, and aromatherapy can be easily used according to the user's needs. Leedeyeon plans to sell the device through a home shopping or shopping platform and then sell the aroma essential oil continuously. The business plan is expected to increase sales of about KRW 5 billion in annual sales with 'Cork Speaker' and KRW 15 billion in annual sales with 'Aromize' by 2019, and it also plans to progress other design projects. The second company, Ambitionem, which is a new bag brand that was established in 2017, created a DIY backpack with customizable features to help travelers traveling around the world know their whereabouts while leaving their travel records. This product is available in two sizes, 60 liters and 40 liters, depending on the itinerary or body type. Customizable colors for the map on the backpack are gold, silver and national flag colors. Ambitionem uses domestic factories to produce small quantities quickly and Vietnamese factories to produce large quantities at low cost. As a brand strategy, they use high-value branding and rare value strategy. They promote through travel community and creator, and they are trying to optimize targeting and to build credibility. Meanwhile, the plan for the future is to develop backpacks, which can be opened like carriers, and domestic DIY backpacks, which changed the world map to domestic map, with the aim of mass production in February next year. They will also actively participate in the buyer matching program and develop into overseas markets. The third company, UnitySoft, presented 'C2M', which synthesizes and generates MRI images with CT images. CT is a method of transmitting radiation through a difference in transmittance, and MRI is a method of calculating the time difference when the arrangement of water molecules changes using a magnetic field. So, the result of each image shows different results. However, the disadvantage is that MRI is expensive and the time it takes is so long that patients are burdened in taking both types of images. Therefore, 'C2M' deep learning model that synthesizes MRI image with CT image is prepared and it is based on GAN (Generative Adversarial Network). In the course of the process, they used 200 paired data to repeat the deep learning model and gradually improved the performance. Based on this, the result was close to the original aim, but it lacked detail to replace the MRI. Unitysoft has set a goal of 'C2M' as a secondary goal to provide information on whether to additionally take an MRI in the presence of only CT images, and it is developing tools to replace full CT or MRI. ▲ Leedeyeon presented 'Aromize,' a smart diffuser device. ▲ Ambitionem is prepared two types of backpack. ▲ Unitysoft presented 'C2M,' which synthesizes and generates MRI images with CT images. The fourth company, SkyMap, is developing three-dimensional GIS client engine. Trends in geographic information industry using GIS engines include fine-resolution aerial photographs, three-dimensional precision mapping services, and web-based services. However, existing products based on Web-GL have disadvantages that the implementation speed is slow and the quality of the texture is degraded. Therefore, SkyMap is aimed at high quality textures by using a new engine service that follows the HTML5 web standard, and implementing a texture through an algorithm that finding repeating patterns in buildings. In addition, by equipping the viewer optimized to web and mobile, it will be possible to check map data well anytime, any place. Also, the update for providing high-quality map data to further games, autonomous driving, smart city, and VR/AR. The fifth company, Axleless, is a technology company developing 'Axleless motor'. 'Axleless motor' is a motor that can transfer fluid by itself by combining a hollow structure rotor and a cylindrical impeller (rotating blades inside the centrifugal pump). This product have simple structure and low manufacturing cost, and can be used for a suction motor, a pump, a ship propulsion device of a vacuum cleaner. In the case of a propeller system, which is widely used in propulsion system of ship, it is disadvantageous in that it may be damaged due to an external impact or may cause various accidents due to rotating blades. Therefore, by replacing the product with an axleless motor, it would be safer since the blades are not exposed to the outside, and the battery can be stored together, which can help the space utilization. As for the application range of this 'impeller integral motor', Axleless, mentioned electric powered automobiles, ships, and personal power devices for leisure. Lastly, the sixth company, Vrani, is developing VR content for children. Jung Hwi-yeong, CEO of Vrani, said at the beginning of the presentation, "Recently, children are excluded from the VR market." The reason for this is that it is difficult for children to access HMD, how to install and play the device is difficult, and that the VR content market is becoming adult-oriented. In order to provide VR's realistic experience to children, we need more advanced elements than adults need, and through this '6-month challenge platform', the company made efforts to optimizing existing 2D GUI interface to VR and contrive UX/UI system most optimized to VR in which users interact with characters by emphasizing naturalness through dialogue and gestures by interactions with the character. To do this, Vrani utilized KIST-patented technology, which is a real-time motion recognition algorithm-based VR motion sickness reduction content, to reduce delay time, so that duration of flights in actions like jumping, left and right side-crawl walking, and multi-platform support became possible. Currently, Vrani has built a VR content product line that introduces character IP and related products, develops 15 kinds of VR mini games, and enhances inductivity according to children's tastes. In the future, these products will be distributed to shopping malls, theaters, theme parks, and family restaurants, and consultations with some franchises are under way. ▲ SkyMap is developing 'three-dimensional GIS client engine. ▲ Axleless introduced 'axleless motor'. ▲ Vrani is a VR content production company targeting children.
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[KITA KGSF 2017] 2017 Startup Challenge Platform Demo Day Scene Sketch
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. In this event, 140 foreign big buyers, 20 WTC member companies, 900 domestic export companies and 100 PPL companies participate in consultation activities and incidental events. '2017 Startup Challenge Platform Demo Day', an incidental event of ‘10th Korea Grand Sourcing Fair 2017', is an exhibition as well as demo day of '6-month Challenge Platform' progressed by Seoul Center for Creative Economy and Innovation. It is prepared by Seoul Center for Creative Economy and Innovation to raise the opportunities of investment and business linkage by informing the accomplishments of the startups that were fostered through the project period to private accelerator and investing institutions. A total of 19 companies selected through the recruitment of participating companies participated in the event. Targeting domestic angel investors, accelerators, and VCs, incidental events including "Company IR", in which six companies conduct their own IR, "Selected prototype exhibition", which discloses the products produced as a result of the performance, "Startup representative lecture", which presents success stories of excellent startup representatives among graduate companies, and "Networking", held for exchanges among attendees such as selected company representatives, accelerators, investors, center employees, and visiting buyers. Song Yong-jun, general manager of Foundation Fostering Division in Seoul Center for Creative Economy and Innovation, said, "We would like to thank all the companies and participants who participated in this event. So far, we have been doing business for three years and many graduate companies have been born. We will keep supporting and informing connected business so that the graduate companies can make better results in the future." He also said, "We look forward to continuing our relationship and growing together, and we hope for efforts to the participating companies to grow together with a sense of responsibility. ▲ '2017 Startup Challenge Platform Demo Day' was held. ▲ Song Yong-jun, general manager of Foundation Fostering Division in Seoul Center for Creative Economy and Innovation, introduced the event. ▲ Six of the companies among selected companies from '6-month Challenge Platform' had time to introduce their products. ▲ After the introduction time, they answered the questions of the participants. ▲ A system of connected projects of '6-month Challenge Platform' was introduced. ▲ A lecture by a company representative who graduated from '6-month Challenge Platform' was also held. ▲ Performance of companies selected by '6-month Challenge Platform' was exhibited. ▲ In 'Networking' program, attendees, selected company officials and investors took time to interact.
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[KITA KGSF 2017] KITA 10th Korea Grand Sourcing Fair 2017 Opening Scene Sketch
On November 28, ‘10th Korea Grand Sourcing Fair 2017' was held at COEX D Hall in Gangnam-gu, Seoul. The ‘10th Korea Grand Sourcing Fair 2017', which will be held until the November 29th, will connect Korean with overseas and regional large distribution corporations, manufacturing companies, and consumer goods import vendors for both on-line and off-line to support the export of domestic products through a large global distribution network. The event, which will be held for the 10th time since 2008, is sponsored by Korea International Trade Association (KITA), sponsored by Ministry of Industry, Trade and Energy and the Ministry of SMEs and Startups and KB Kookmin Bank. In this event, 140 foreign big buyers, 20 WTC member companies, 900 domestic export companies and 100 PPL companies participate in consultation activities and incidental events. At the main event, 'Consultation Meeting with Big Buyers', one-on-one business consultations will be progressed between global, regional big buyers and domestic companies about various items such as food, beauty, household appliances, kitchen utensils, clothing and textiles with the scale of 134 counseling booths. Organized with 30 counseling booths, ‘Chinese Online Shopping Mall and Home Shopping Sourcing Strategy Seminar' will have one-on-one business consultations between Chinese online shopping mall and home shopping buyers and domestic companies about food, beauty, and household appliances. In 'KWAVE-PRO' with 'Korean Wave Star', 40 domestic Korean wave exhibitors present pleasure and opportunities business at the same time through 'Korean wave star PPL product exhibition', 'Korean wave star fan sign meeting', 'Face of Asia: Korean model selection contest', 'Korean wave star participant company pictorial exhibition', and 'K-MALL'. In addition, other events such as 'K-FISH Pavilion', which displays and promotes 9 kinds of unique seafood products certified by the Ministry of Oceans and Fisheries, 'Start-up Special Exhibition,' which introduces products of 24 promising start-ups, ‘KITA’s Export and Job Consultation Pavilion’, which gives consultations about a trade business education, FTA export strategy, trade business, trade difficulty, overseas certification, and middle-aged and youth employment, will be held at the venue until the 29th. Meanwhile, on the opening day of the 28th, lectures were given by local experts at 'Seminar on Sourcing Strategies for the Use of Large Distribution Companies in China and Asia' on the theme of 'Sourcing strategies for online shopping malls and home shopping in China' and 'Sourcing strategies for utilizing large distribution companies in China and Asia'. At '2017 Startup Challenge Platform Demo Day', which was held at the conference room, promising start-ups pitched and displayed prototypes, and lectures on excellent start-up success stories and networking of start-up personnel were progressed. ▲ ‘10th Korea Grand Sourcing Fair 2017' was opened on November 28th. ▲ It was prepared to support the export of domestic products through a large distribution network all over the world. ▲ One-on-one business consultation between global, regional big buyers and domestic companies will be held for two days. ▲ 40 domestic Korean wave product exhibitors participate in 'KWAVE-PRO'. ▲ The event provides business opportunity and pleasure to visitors at the same time. ▲ At 'K-FISH Pavilion', nine unique seafood products certified by the Ministry of Oceans and Fisheries are exhibited and promoted. ▲ Export-related consultation activities are conducted on a topic-by-topic basis. ▲ Seminar on "Sourcing strategies for the Use of large distribution companies in China and Asia" was held. ▲ '2017 Startup Challenge Platform Demo Day' event was held. ▲ Promising start-ups pitch and exhibit prototypes.
