A poster promoting GCCEI’s support program for startups in GITEX 2024| Image provided by Gyeonggi Center for Creative Economy & Innovation
Gyeonggi Center for Creative Economy & Innovation (GCCEI) (Director Won-kyung Kim) is set to support its incubated startups at the ‘2024 GITEX,’ which will take place from October 13 to 16 in Dubai, UAE. The center aims to showcase those startups’ innovations on a global stage.
‘Expand North Star,’ held at the 2024 GITEX exhibition, is a prominent event where global investors and buyers gather. Known as one of the world’s largest IT exhibitions alongside CES in the US, this event provides significant networking and business opportunities. Five startups supported by GCCEI have advanced to the semi-finals of the ‘Supernova Challenge,’ demonstrating their global competitiveness.
The ‘Supernova Challenge’ offers a total prize of $200,000 (approximately 270 million KRW), with first place receiving $100,000 (about 135 million KRW), second place $60,000 (about 81 million KRW), and third place $35,000 (about 47 million KRW). It is the largest pitch competition held in the Middle East.
The startups competing in the ‘Supernova Challenge’ can showcase their innovative technologies and business models to a global audience of industry leaders, investors, and experts. They can also explore potential market entry opportunities through networking with stakeholders from various ecosystems.
The five startups advancing to the semi-finals are:
- AETECH: AI-based waste sorting robot solution utilizing object recognition technology.
- MOCURATEC: High-performance BBM solution for reusable batteries’ safety and performance restoration.
- i-ESG: AI-based ESG integrated management solution ensuring corporate sustainability.
- DoBstudio: Specializing in AI-based virtual facial graphic technology.
- Fin2B: A B2B financial platform offering accounts receivable discounting through digital technology.
These companies were identified through GCCEI’s initiatives, including the Gyeonggi Climate Tech Startup Incubation Program (Gyeonggi Province), the Global Hub Program (Ministry of SMEs and Startups), and the Startup Leap Package (Ministry of SMEs and Startups).
Ahead of the exhibition, GCCEI provided various global capacity-building programs, such as pre-meetups with senior experts familiar with the Middle Eastern market. These initiatives aimed to help the startups understand the local business environment and gain global business insights.
GCCEI, committed to supporting startups’ global expansion strategies, continues to provide unwavering support to ensure that Korean startups build competitiveness and successfully establish themselves in international markets.
List of companies that advanced to the semi-finals of Supernova Challenge at GITEX 2024 | Image provided by Gyeonggi Center for Creative Economy & Innovation
Pangyo Techno Valley is a global integrated R&D hub focused on IT, BT, CT, and NT, integrating Research (R), People (P), Information (I), and Trade (T). As Gyeonggi-do’s representative innovation cluster, Pangyo Techno Valley was established to secure national new growth drivers such as technological innovation, human resource development, job creation, and enhancing international business competitiveness. As of 2023, 1,666 companies employ 78,751 people, and it has positioned itself as the most innovative hub in South Korea, with sales amounting to 167.7 trillion KRW (125.5 billion USD).
Furthermore, the Techno Valley Innovation Division of the Gyeonggi-do Business & Science Accelerator (GBSA) holds monthly events such as the Pangyo Evening Meet-Up, Pan-Pan Day, and the Pangyo Startup Investment Exchange “In-Best Pangyo” to maximize the value of Pangyo Techno Valley. They also support the Pangyo Overseas Promotion Program to publicize information about Pangyo’s companies, products, and services to domestic and foreign investors and the media, thereby facilitating foreign investment.
