• KITA Held ‘Open Innovation Day with German Companies’
    2019-10-02 hit 784

    KITA Held ‘Open Innovation Day with German Companies’


    - BMW·Bayer and Korean Startups discussed cooperation in autonomous driving and AI-based healthcare -

    ‘Open Innovation Day with German Companies in Korea’, co-hosted by the Korea International Trade Association (Chairman: Kim Young-ju) and the Korea-German Chamber of Commerce & Industry (CEO & Chairman: Barbara Zollmann) and sponsored by the Ministry of SMEs and Startups, took place on October 1st at the Startup Branch, COEX in Samseong-dong. 

    BMW Group Korea and Bayer Korea participated in the event and sought the ways to cooperate with ten Korean startups that have products and technologies in the areas of self-driving, 3D printing, Artificial Intelligence (AI) -based disease prediction and drug development, and digital healthcare.


    Smart Radar System, a Korean startup which has the technology that detects objects in real time by collecting four types of data such as distance, height, depth and speed, said, With the ‘4-D Image Radar’, an autonomous sensor system, we have attracted investment not only from Korea but also from Silicon Valley. However, it was difficult to create opportunities to cooperate with the global giants. Thanks to this event, we were able to present our technologies and cooperation measures in front of BMW."


    Oncocross, which runs an AI-based new drug discovery platform, said, “We have attended many open innovation events in Korea, but it was difficult to match each company's needs precisely as the events were designed for the companies in various fields. In contrast, the Korea International Trade Association invited only a few large companies and selected the startups in the fields that the large companies are interested and gave them the opportunity to pitch. It increased the possibility of cooperation. ”

    Felix Kalkowsky, Vice President of the Korean-German Chamber of Commerce and Industry, said, "The technologies and services of Korean startups are comparable to German startups," and stressed, We will support the smooth connection by seeking measures to maximize the innovation and development of the companies in the two countries.


    Roh Yong-seok, Director General for Global Market Policy at the Ministry of SMEs and Startups, said Autonomous driving and AI-based healthcare areas that are focused by the BMW Group and Bayer Korea are the strategic technology fields that the Ministry of the SMEs and Startups plans to provide more than 100 billion won every year. He also added, We will faithfully serve as a helper and connector of small and medium venture companies that remove obstacles and connect necessary things with generous financial support to help Korean startups create new world through continuous innovation.


    Lee Dong-ki, executive managing director of the Innovation and Startup Group at KITA, said The Korea International Trade Association has constantly held open innovation events with global conglomerates such as Denmark’s Lego, Europe’s Airbus, China’s Lenovo, and Germany’s BASF to support Korean startups’ overseas expansion and scale-up. He also mentioned, In the future, we will exert our efforts to provide more opportunities for overseas expansion in many different ways.

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