The 8th Seoul Innovation Challenge performance sharing meeting was held on the 21st at Tipstown S1 in Gangnam, Seoul.
The Seoul Innovation Challenge is a pre-research and development program implemented by the Seoul Metropolitan Government to discover early innovative technologies in the field of future new industries, facilitating prototype production and supporting the growth of corporations. The Seoul Business Agency (SBA) oversees the program, and the Early-Stage Investment Accelerator Association (KAIA) participates as a collaborator.
This event was organized to allow the selected corporations of the 8th Seoul Innovation Challenge to present their achievements and network with investors. About 60 people participated, including 10 startups dealing with advanced industries like artificial intelligence (AI), healthcare, and circular resources, and five professionals from venture capital.
The event proceeded with each startup directly introducing their business and explaining their achievements. Ten companies participated in presentations, including MediInTech, which develops an electric smart veterinary endoscopy system, and Catchflow, which produces directional speakers using high-output ultrasonic sensors. Booths for individual corporations were set up where investors could hear product explanations and experience them, along with networking time.
Choi Yoon-seop, CEO of Digital Healthcare Partners, noted, "We will actively invest in startups with potential for growth in the medical industry." Kang Seok-min, head of the investment finance team at DB Capital, explained, "The domestic venture investment market has experienced a severe cold spell for about three years, but it has been improving since the second half of last year," adding, "Investment is trending to increase, centered around the AI theme."
Park Hyun-hae, head of the High Seoul Enterprises team at SBA, said, "Through the Seoul Innovation Challenge program that started in 2017, over 230 startups have received assistance and been able to grow," and added, "We will continue to actively support promising startups dealing with early technologies so that they can grow into excellent corporations."