The Ministry of SMEs and Startups (MSS) said on the 5th that it held a results presentation at the Conrad Hotel in Seoul to share collaborative technologies, achievements, and commercialization plans of Start - Up companies participating in the "artificial intelligence (AI) super-gap challenge" together with LG Electronics, Qualcomm, and others.
The Ministry of SMEs and Startups (MSS) last year, together with LG Electronics, pursued the "on-device challenge" to explore ways to load AI Start - Up innovation solutions onto smart devices such as laptops. It supported the application of outstanding technologies to LG Electronics products in practice.
This year, the global conglomerate Qualcomm also newly joined. It is also pushing the "vertical AI challenge" to support collaboration with deep-tech small and venture businesses in four fields with demand, such as autonomous driving and drones.
This event was prepared for 19 AI Start - Up companies, selected through about 10-to-1 competition in the call on Feb., to share the results of the collaborative projects they have pursued so far and to present commercialization plans for outstanding projects.
The event began with a tour of exhibition booths by key figures, followed by greetings from First Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups (MSS), and welcome remarks from President Park Hyeong-se, head of the MS Business Division at LG Electronics, and Vice President Kim Sang-pyo of Qualcomm. It then continued with presentations of collaboration outcomes between global conglomerates and AI Start - Up companies and the commercialization plans of outstanding projects.
Three companies, including Hudson AI, selected as the final outstanding projects, plan to pursue additional collaboration with LG Electronics and Qualcomm. Their technologies are expected to be applied to smart home appliances, leading to revenue generation through joint commercialization.
First Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups (MSS) said, "AI Start - Up companies are developing super-gap technologies based on ideas that did not exist in the world and are growing into main players in the AI ecosystem through collaboration with large companies," and added, "The Ministry of SMEs and Startups will expand the AI super-gap challenge, which is essential for AI Start - Up growth and global expansion, into various fields and gradually increase the participation of partner conglomerates."