The Gyeonggi Center for Creative Economy and Innovation (GCCEI) announced that its incubated seven startups participated in a pitching event held at the Uppsala Innovation Center (UIC) in Sweden on Dec. 8 (local time). The event was organized by Gyeonggi Small and Medium Business Center (GSBC) and KOTRA with the support of GCCEI.
Swedish venture capitals (VCs), mentors and corporates attended the event to see the technologies of the seven Korean startups. The UIC is well known as one of the leading incubators in the world. The UIC has expressed its wishes to work together with Korean startups and accelerators for the past few years.
Shield Board, one of the attending Korean startups, presented its own invented Styrofoam, which is semi non-combustible and has thermosetting property, and attracted attention from Swedish architects. The UIC said they will help Shield Board enter the Swedish market as well as those of Norway, Denmark, Finland and Germany.
Opus One, another startup, was also well received by presenting a smart umbrella with the functions that alert you on weather forecast at your door step and prevent you from losing the umbrella, etc., Binary Lab showed how they can compress text messages by 30 percent, regardless of any character sets, which will reduce the overloaded server of messengers. NunuloVR displays the world-first VR HMD with adjustable lens, through which you can enjoy even more vivid images of VR and reduce dizziness, nausea, etc. RebelSoft showed off how they can transform CT into 3D images where patients can see their dental conditions very clearly and easily.
Michael Camitz, chief mentor and former Deloitte senior advisor at the UIC, said, “Korean startups are incredibly innovative and creative. In particular, their levels of technology leave me speechless. If they make sure they have good revenue and business models, I have no doubt about their success. And lately in Sweden, many startups want to enter the Korean market and desire the collaboration with Korean companies. We at the UIC are going to try our best to find ways to support Korean startups we met today.”
Sally Lee, CEO of Shield Board, said, “I was really stunned to see that Swedish VCs and mentors liked my product and showed sincere interests in Korean startups. Michael Camitz promised to help my company enter the Scandinavian market by providing free advice and mentoring for the company to get investment, orders and collaborations. Not only Shield Board but also other Korean startups received a lot of business offers, which was absolutely rewarding.”