i-ESG (CEO Jong-woong Kim) attended the Korea-U.S. Startup Summit, which was held from Sept 20th(Tues) to the 21st(Wed, local time) in Pier 17 in New York, USA.

I-ESG is a startup that provides ESG-specific solutions based on AI and big data.While the importance of ESGs is growing day by day as it quickly becomes regulated, companies have not been able to effectively respond to these demands and are exposed to risks that are directly connected to their survival, such as the suspension of trading, exclusion of delivery, and withdrawal of investments.

Beginning as an in-house venture of a Fortune 500 company, i-ESG uses the experience of know-how it has gathered to provide SaaS (software as a service) solutions which help companies respond to and manage ESG more easily and quickly. Based on i-ESG’s own technology which collects, analyzes, and uses atypical data from various fields, it supports a sustainable response and management of ESG based on objective data.

Accordingly, in this exhibition, they have introduced an ESG-specific integrated solution that companies need for ESG response and management, helping them with ESG diagnosis, identification of important issues, ESG disclosure, AI-based management, and trend analysis. i-ESG utilizes specialized data analysis technology to provide a service based on objective data so that that companies can promptly respond to the atypical, non-standardized requests of various stakeholders. Their plan is to continue to add-on services that have been tailored to the needs of clients, using the expandability of SaaS.

A spokesman of the company explained that the services of i-ESG are realistic and intuitive as they are planned based on interviews with various real clients and plentiful experience from the perspective of a company. The fact that it is based on data and can easily be used without any prior knowledge of how it is used, and the fact that it can make ESG response 6 times faster in comparison to existing manual methods can be selected as key factors that prove its usefulness as an ESG management tool that companies can actually use.

In addition, it enables ESG management based on SaaS solutions so that SMEs can use it at a low cost that is up to 95% lower compared to the existing costs, which can cost up to 100s of millions of KRW, and provides objective solutions based on patented data technology (1 Technology patent related to the collection, analysis, and use of atypical ESG data, 3 additional applications).

i-ESG’s solution was developed as a SaaS targeting global SMEs that are struggling with ESG response.

A spokesman of i-ESG said, “SMEs that are influential in society as a whole but are unable to effectively respond to ESG due to realistic limitations, such as imbalanced information, are our key clients.” They went on to emphasize that, “We have introduced a reasonable pricing policy to the integrated solution based on objective data based on SaaS so that more SMEs could utilize it. Many corporations and government agencies that take part in making a better ecosystem through the internalization of ESG in SMEs are our core supporters and partners.”

They went on to reveal their aspirations, saying, “We will quickly expand as a global service based on the experience from the Korean market, which is the best test bed.”

On the other hand, the Korea-U.S.STARTUP SUMMIT hosted by the Ministry of SMEs and Startups(Minister Young Lee) and supervised by the Korea Institute of Startup & Entrepreneurship Development(Director Yongmoon Kim) and Korea Venture Investment is providing scene of network between South Korean startups and global companies, VC and startups from New York with the nickname Silicon Alley where ecosystem and IT industry are well-developed. Through this event, they are seeking new business models of K-startups and advances into the global market, and promotes domestic investment of global capital. During the event, a corporate PR booth (joint pavilion between large corporation-startup) was set up, and U.S. VC and investment attraction IR, AC, Tech Media, and meetups and seminars were held with companies succeeded to enter the U.S. market.

KOREA - US STARTUP SUMMIT NEWS PAGE  : https://url.kr/4cod53