[PANGYO ISSUE] Pangyo Techno Valley Weekly News, News from the second week of May

Pangyo Technovalley is a cluster of Korean startups and mid-sized companies. It is a global convergence R&D hub of global IT, BT, CT, NT companies where R (Research), P (People), I (Information), and T (Trade) are integrated. It is a place where cutting-edge technologies of the country’s new growth engines such as technological innovation, human resource development, job creation, and strengthening of international business competitiveness are combined.

Now, we are going to start Pangyo Technovalley Weekly Briefing.

Kakao Entertainment has acquired the North American platforms Tapas and Radish

This implies that Kakao Entertainment has entered the overseas market to accelerate its growth and enter the North American content market.

Tapas, acquired by Kakao Entertainment, is North America’s first webtoon platform established in San Francisco in 2012. Kakao Entertainment began servicing its major IPs like “Office Dating,” “Space Sweepers,” “The Uncanny Counter,” and “Navillera” there to enter the North American market.

Radish is a mobile-specific English novel content platform established in New York, in 2016. Since 2019, Radish has been making hits with its own content “Radish Original’ based on the group creation system. It has an unrivaled competitive advantage, having 90% of the entire revenue coming from the original IP.

Lee Jin-soo, CEO of Kakao Entertainment, said, “Kakao Entertainment has once again made a step closer to becoming a global content company by acquiring Tapas and Radish, and will spurt once more in the expansion of the global platform network. We are expecting to play a key role in leading the global entertainment business.”

B:eat Corp commercializing B:eat Box to offer coffee served by robots

The unmanned smart store, where you can quickly and conveniently purchase food and beverages like coffee and salads, and various household goods 24 hours a day without a cash register, is emerging as an everyday life thing.

Food tech startup B:eat Corp has opened its first B:eat Box smart store “Pangyo Technovalley Branch” in Pangyo Technovalley, and started commercializing this autonomous retail platform.

B:eat Box Pangyo Technovalley Branch is located in the center of IT hub Pangyo Technovalley in Sampyeong-dong, Seongnam-si, Gyeonggi-do known as Korea’s Silicon Valley. This commercial district where major domestic IT companies are gathered is popular among young office workers who are familiar with digital retail, making this place the best test bed to aim at opening 100 B:eat Box branches by the end of this year.

The food-tech-based retail autonomous operating platform B:eat Box is made of ▲ B:eat 3X, a more advanced 3rd-gen robot cafe ▲B:eat To Go smart shelf that requires no checkout ▲MD space that connects with Naver Smartstore with QR code.

B:eat Box is said to be able to stably manage and control stores without resident personnel, and AI predicts sales demand on its own through a deep learning process, and automatically counts inventory in stores and places orders on items that have run out.

17th K-startup Mentoring Program from Korea Entrepreneurship Foundation

On May 12, Korea Entrepreneurship Foundation held the kick-off ceremony for the alliance of mentors and mentees for 17th K-Global Entrepreneurship Mentoring Program 2021. The K-startup Mentoring was conducted in a non-face-to-face manner for 175 target companies and 30 dedicated mentors.

In the 17th K-startup Mentoring Course, the mentee will be matched with a mentor who has expertise in the field, and will receive mentoring support for eight months from the CEO mentor based on the measurement of the maturity of the startup and the mentoring performance plan.

Mentee companies will be able to receive advice on how to solve problems regarding technical and management difficulties from their dedicated mentors.

It is a fostering program to help strengthen investment capabilities and search for sales channels which runs various hands-on programs like business networking among companies, investment counseling, and demo days. For companies that wish to enter the overseas market, it even provides networking opportunities with global companies.

Gyeonggi-do’s startup investment attraction by running Pangyo TV Investment Exchange Meeting

Gyeonggi-do will hold this “investment exchange meeting” to prepare a foothold for investment attraction for sprout companies (startups). It is going to gather 10 companies to participate in the first round until May 30.

This investment exchange meeting was prepared to match outstanding sprout companies in Pangyo Technovalley with investors. The companies participating in this event will first receive IR consulting, then be given the opportunities to receive follow-up support like investment consultations, investment seminars, and connection with funding institutions.

The companies eligible to enter are sprout companies in Pangyo Technovalley established less than seven years ago as of the date of the recruitment announcement. Companies engaging in cutting-edge industries or innovative technologies such as IT (information and communication), BT (biotechnology), NT (nanotechnology), CT (cultural technology) are eligible to enter. The companies that want to participate should download the application form from the Gyeonggi Startup Platform website and fill out the application online by May 30. Professional investors and institutions will review the applications and individually notify the results of the selection in early May.

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

Source: Pangyo Techno Valley Official Newsroom

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