Ulala LAB (CEO Hak Ju Kang), which is a smart-factory platform company, announced that it has been awarded the first prize on SME (Small & Medium Enterprise) sector at ‘ITU World Telecom 2016’ held in Bangkok, Thailand from 14th to 17th.
In this event, supervised by a UN Specialized Agency called ITU, 17 government agencies and 250 exhibitors as well as approximately 8,000 attendees from 136 nations around the globe had participated. The first prize on Global SME that Ulala LAB had received is a prize of the highest authority, in which it is awarded to SME & startup that had showcased the most innovative solution based on Information and Communication Technology. Thus, it means a lot for startup such as Ulala LAB.
At ITU World Telecom, Ulala LAB showcased about 170 different kinds of sensors as well as wimfactory platform where it is combined with self-developed IoT device called WICON and integrated management system for smart-factory called WIM-X. This service has gained reputation for its superiority as a low cost, high efficiency platform that can be utilized exclusively by small and medium manufacturing companies that constitute more than 80% of the global manufacturing industry.
Wimfactory monitors the condition of factory and production facilities in real time, and it provides a prediction of malfunctioning as well as its notification in order to improve efficiency in the production through boosting the quality of product line and checking the rate of defection and malfunction. In addition, it receives an immense attention since wimfactory makes it possible to build a smart factory in a short period of time with a cost less than one tenth of what it costs for large corporations to build smart factory, which can cost from hundreds of millions up to several hundred billion won.
Hak Ju Kang, CEO from Ulala LAB, said that “I think all the hard work finally gets paid off after winning the first prize award at ITU World Telecom where more than 8,000 attendees from 136 nations around the globe took part. In the future, I will build my company into a global Hidden Champion in the field of smart-factory.”
Meanwhile, Global SME sector is proceeded by an impartial and strict which consist of two phases. Fifteen global SME & startups had been selected after the first phase of thorough examination of documents. And after the second phase of presentation and Q&A in front of the panels from each field, the company that possessed the most innovative solution had been selected as the prize winning company.