The Gyeonggi Center for Creative Economy and Innovation (CEO Won-kyung Kim, hereinafter referred to as the Gyeonggi Innovation Center) announced on November 3 that it signed a strategic memorandum of understanding (MOU) with global e-commerce logistics solutions company Radial and global consumer goods company Unilever to strengthen open innovation cooperation between domestic startups.
Radial provides e-commerce logistics and fulfillment solutions, primarily in North America and Europe, and partners with global retailers. Unilever, a global consumer goods company with over 400 brands, including Dove and Vaseline, is expanding its investment in sustainability and innovative technologies.
This year, the Gyeonggi Innovation Center, in collaboration with Radial and Unilever, operated an open innovation program to identify opportunities for collaboration with domestic startups. As a result, Radial signed proof-of-concept (PoC) agreements with two participating startups, and Unilever signed letters of intent (LOI) with two startups. Both companies highly valued the startups' technological prowess and collaborative potential, expressing hope for long-term collaboration.
Through this agreement, the two companies will jointly operate an open innovation program based on the technology needs of global companies, provide domestic startups with opportunities to enter overseas markets and demonstrate their capabilities, and establish a long-term collaboration system. The Gyeonggi Innovation Center will identify and match startups, while Radial and Unilever will provide the technology demand. Through proof-of-concept (PoC) and pilot projects, Radial will validate the technology and lay the foundation for overseas market entry.
Kim Won-kyung, CEO of the Gyeonggi Innovation Center, said, “Collaboration with global companies is a crucial opportunity for startups to simultaneously gain market validation and overseas expansion opportunities.” He added, “Based on proven collaborations, we will build long-term partnerships to expand the global reach of domestic innovative startups.”
- See more related articles
You must be logged in to post a comment.