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Image courtesy of NAVER
Naver (CEO Choi Soo-yeon) announced it will hold an ‘AI RIDE HyperclovaX’ contest to recruit startups to participate in “Project Flower.”
By selecting the winners of this competition, Naver plans to develop AI solutions that can help micro-businesses and content creators grow. Startups participating in the project will use Naver’s “AI HyperclovaX” to develop business-specific AI solutions. This solution is expected to be useful for online and offline retailers and content creators in their sales and creative processes. It is expected that the new AI solution will be able to solve the various difficulties they have been facing. Startup companies already operating their own AI solutions can also participate in this project.
Naver launched “AI RIDE” last month, a program produced as “Project Flower” to increase technology accessibility for its various partners. Naver will conduct the “Commerce Solution AI RIDE” campaign, which provides free AI commerce services, to help micro businesses, the main customers of “AI RIDE,” better understand AI.
In this contest, Naver plans to select excellent startup companies by judging their level of understanding of the micro business environment, service ideas that can solve the difficulties of micro business owners, generative AI technology, growth potential, and originality of business models. Companies interested in participating can apply for the competition until January 31, 2024, and five companies will be selected after completing the document review and presentation tests. The selected companies will work with Naver for eight months throughout planning and launching the service.
Startup companies working with Naver will receive support for infrastructure costs needed to build new services, learn how to use HyperClova X and optimize their infrastructure, and participate in business activities such as conferences and joint campaigns with Naver. Naver is developing technology to easily customize business-specific generative AI models by combining startups’ data sets in its “Clova Studio.” Naver Cloud has been providing the “HyperClovaX” model through “Clova Studio” since October 2023.
Through the “AI RIDE Hyper Clova X” competition, NAVER aims to discover innovative startup partners and create a business ecosystem that grows together. By participating in this collaborative project with NAVER, startups are expected to improve their business acumen and technical capabilities and network with micro-enterprises and content creators who can become their potential customers. Micro-enterprises and content creators who have been unable to apply cutting-edge technology to their businesses due to limited investment in time, money, and manpower will be able to use Naver’s AI solutions, creating a business environment where AI can be more easily applied to their businesses.
Shin Ji-man, head of Naver’s “Project Flower” department, said, “With the launch of Project Flower, the scope of collaboration between Naver and startup companies has expanded. This project will be able to solve the problems of many micro-enterprises through its various technologies. He continued, “I expect that by applying the ingenious ideas of various startups to our new services, we will help micro-business owners and content creators grow.”
Naver is one of the largest IT companies in South Korea and is headquartered in Jeongja-dong, Seongnam-si, Gyeonggi-do.