The open innovation program 'Samchully S-Together', operated by domestic energy company Samchully (CEO: Jae-kwon Yoo) in collaboration with The Invention Lab, an early investment firm and TIPS operator, concluded its schedule for the year with Demo Day on September 30th.
The event was held at the Samchully Motors Connected Center in Gunpo, Gyeonggi Province, and was attended by Samchully Group executives and employees as well as external judges. It was also broadcast live on YouTube, allowing all Samchully employees to participate in real-time.
This year's program recruited participating companies focusing on future growth industries such as climate tech, deep tech, and food tech. Approximately 200 startups applied, and after document and in-person screenings, six companies were selected to participate in Demo Day.
At Demo Day, each startup presented its corporate presentation (IR) and presented its products and technologies through a separate exhibition booth. Participating companies were evaluated based on four criteria: business viability, marketability, technological prowess, and execution capabilities.
As a result of the evaluation, Banff won the grand prize for its methane reduction solution, while ABR received the gold and Solarize the silver awards. Plasicle, Shinsta Presents, and Korea Deep Learning received bronze awards. The winning companies received a total of 130 million won in prize money, and some companies will also be considered for follow-up investment.
“This program was not simply a competition, but rather an open innovation platform where large corporations and startups could explore the possibility of actual collaboration,” said Jinyoung Kim, CEO of The Invention Lab. “It was meaningful in that startups were able to explore more specific business opportunities through collaboration with Samchully.”
Meanwhile, 'S-Together' is a joint program that combines Samchully's ESG and new growth strategies with The Invention Lab's startup investment and operation experience, and follow-up activities to support startups' market entry and growth are expected to continue in the future.
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