Daegu creative economy center aims to promote regional economy
By Yoon Sung-won
DAEGU ― Samsung Electronics pledged Tuesday to step up its efforts to support local startups.
At the first anniversary of the Daegu Center for Creative Economy & Innovation, which the company jointly established with the Ministry of Science, ICT and Future Planning, Samsung said it will encourage more entrepreneurs to launch startups, help them reach overseas markets and create synergy for the regional economy.
"We have seen the achievements in fostering a venture business ecosystem which we aimed for when the center was established," Samsung Electronics President Lee Sang-hoon said during an anniversary event, Tuesday. "We will strengthen support programs for the creative economy to vitalize the regional economy."
Samsung Venture Investment Corp. President Lee Seon-jong said, "We will continue to provide support to build a startup environment which starts from ideation and establishment, and leads to an expansion of investment."
As a follow-up, the company has organized a council to discuss how to support startups, made up of senior executives, CEOs of local enterprises, experts in the academic and industrial sectors and the head of the center.
Samsung also said it will help startups, which completed the center's incubation program called "C-Lab," enter global markets.
It will tap into Samsung Venture Investment Corp.'s business network in China to attract investment from local venture capitals and offer startups a place in the incubating program at Tsinghua University.
The company will also support local startups participate in an international venture contest in Tel Aviv, Israel, and provide business channels in the United States through the Silicon Valley-based Global Innovation Center and Samsung Strategy & Innovation Center.
To vitalize the regional economy and textile material industry in Daegu, Samsung will launch the "C-Fashion" business while arranging more joint businesses in cooperation with local small- and medium-sized firms, Daegu Metropolitan City and the center.
Samsung has been building the Daegu-Samsung Creative Economy Complex in this city where the nation's top conglomerate started its business. It said the construction is scheduled to be completed by the end of next year.
The Daegu Center for Creative Economy & Innovation opened on Sept. 15 last year as the first of 17 such centers across the nation.
Samsung and the center have selected 35 startups through the C-Lab program and offered a 20 million won investment, one-on-one mentoring sessions with Samsung's industry experts and consulting with Samsung Venture Investment Corp.
Samsung also invested about 10 billion won in 48 startups since September last year. It said it plans to make a 20 billion won venture investment between 2014 and 2019.
At the event, three startups including textile computer-aided design technology firm Walnut, nonferrous metal surface treatment firm Techtrans and Internet of Things-based art education device manufacturer Goonies were introduced as successful cases.
"Under the C-Lab mentoring program and support from Samsung Venture Investment Corp., we have expanded our business to work with apparel giant Nike," Walnut CEO Lee Kyung-dong said. "Our sales are expected to reach 1.2 billion won this year, more than a 40-fold growth from last year's 30 million won. Our goal is to boost sales by over 250 times in 2016."
Four Samsung Group affiliates ― Samsung Electronics, Samsung Display, Samsung SDI and Samsung Electro-Mechanics ― have opened over 40,000 patents related to mobile devices, displays, telecommunications, semiconductors and energy to startups.
The company reached overseas and established a $5 million fund with the Brazilian Association of Science Parks and Business Incubators (ANPROTEC) to foster startups in the country. The Daegu center has signed an agreement with ANPROTEC to promote the creative economy model, which stresses collaboration between conglomerates and startups, in the South American country.
As a result, two Brazilian startups will join the C-Lab program next year, the company said.
"Samsung has offered support in planning, management, investment and overseas business. Thanks to that, the center has an advanced platform of collaboration between enterprises and government agencies," Science, ICT and Future Planning Minister Choi Yang-hee said.
By Yoon Sung-won
DAEGU ― Samsung Electronics pledged Tuesday to step up its efforts to support local startups.
At the first anniversary of the Daegu Center for Creative Economy & Innovation, which the company jointly established with the Ministry of Science, ICT and Future Planning, Samsung said it will encourage more entrepreneurs to launch startups, help them reach overseas markets and create synergy for the regional economy.
"We have seen the achievements in fostering a venture business ecosystem which we aimed for when the center was established," Samsung Electronics President Lee Sang-hoon said during an anniversary event, Tuesday. "We will strengthen support programs for the creative economy to vitalize the regional economy."
Samsung Venture Investment Corp. President Lee Seon-jong said, "We will continue to provide support to build a startup environment which starts from ideation and establishment, and leads to an expansion of investment."
As a follow-up, the company has organized a council to discuss how to support startups, made up of senior executives, CEOs of local enterprises, experts in the academic and industrial sectors and the head of the center.
Samsung also said it will help startups, which completed the center's incubation program called "C-Lab," enter global markets.
It will tap into Samsung Venture Investment Corp.'s business network in China to attract investment from local venture capitals and offer startups a place in the incubating program at Tsinghua University.
The company will also support local startups participate in an international venture contest in Tel Aviv, Israel, and provide business channels in the United States through the Silicon Valley-based Global Innovation Center and Samsung Strategy & Innovation Center.
To vitalize the regional economy and textile material industry in Daegu, Samsung will launch the "C-Fashion" business while arranging more joint businesses in cooperation with local small- and medium-sized firms, Daegu Metropolitan City and the center.
Samsung has been building the Daegu-Samsung Creative Economy Complex in this city where the nation's top conglomerate started its business. It said the construction is scheduled to be completed by the end of next year.
The Daegu Center for Creative Economy & Innovation opened on Sept. 15 last year as the first of 17 such centers across the nation.
Samsung and the center have selected 35 startups through the C-Lab program and offered a 20 million won investment, one-on-one mentoring sessions with Samsung's industry experts and consulting with Samsung Venture Investment Corp.
Samsung also invested about 10 billion won in 48 startups since September last year. It said it plans to make a 20 billion won venture investment between 2014 and 2019.
At the event, three startups including textile computer-aided design technology firm Walnut, nonferrous metal surface treatment firm Techtrans and Internet of Things-based art education device manufacturer Goonies were introduced as successful cases.
"Under the C-Lab mentoring program and support from Samsung Venture Investment Corp., we have expanded our business to work with apparel giant Nike," Walnut CEO Lee Kyung-dong said. "Our sales are expected to reach 1.2 billion won this year, more than a 40-fold growth from last year's 30 million won. Our goal is to boost sales by over 250 times in 2016."
Four Samsung Group affiliates ― Samsung Electronics, Samsung Display, Samsung SDI and Samsung Electro-Mechanics ― have opened over 40,000 patents related to mobile devices, displays, telecommunications, semiconductors and energy to startups.
The company reached overseas and established a $5 million fund with the Brazilian Association of Science Parks and Business Incubators (ANPROTEC) to foster startups in the country. The Daegu center has signed an agreement with ANPROTEC to promote the creative economy model, which stresses collaboration between conglomerates and startups, in the South American country.
As a result, two Brazilian startups will join the C-Lab program next year, the company said.
"Samsung has offered support in planning, management, investment and overseas business. Thanks to that, the center has an advanced platform of collaboration between enterprises and government agencies," Science, ICT and Future Planning Minister Choi Yang-hee said.
