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Samsung Electronics Sharing In-house Venture Know-how with Startups
20 Startups Introduce Products at C-Lab Outside Demoday
Samsung Electronics Sharing In-house Venture Know-how with Startups
  • By Jung Min-hee
  • November 27, 2019, 08:58
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Startup CEOs at Samsung Electronics’ C-Lab Outside Demoday event on Nov. 26

Samsung Electronics held the C-Lab Outside Demoday event at the Samsung Seoul R&D Campus on Nov. 26. It was attended by more than 300 startup CEOs, investors and Samsung Electronics staff and executive members and 20 startups supported by the C-Lab Outside program introduced their products and services there. Leading startup investors such as Kakao Investment sought investment opportunities at the event.

Launched in October last year, the C-Lab Outside program is to enrich the startup ecosystem by sharing the know-how of the C-Lab, Samsung Electronics’ in-house venture program launched seven years ago, with startups outside Samsung Electronics. The company provides large-scale technical support and investment attraction opportunities for selected C-Lab Outside member startups.

In addition, the selected startups can use the Samsung Seoul R&D Campus free of charge for one year. Each team is given up to 100 million won for one year along with customized growth consulting, global market penetration opportunities and those for cooperation with Samsung Electronics.

In August this year, Samsung Electronics vice chairman Lee Jae-yong said that his company would provide software education for employment opportunities for 10,000 young job seekers, expand the in-house venture program to the outside so that more young people can start their own businesses with greater ease, and help small firms adopt smart factory systems. These promises are parts of the company’s plan to invest 180 trillion won and hire 40,000 persons for three years to come.

Samsung Electronics is currently planning to promote the growth of 300 external startups via the C-Lab Outside until 2022. In addition, 200 in-house startups will be given the same support during the same period.