The Gyeonggi Creative Economy Innovation Center (CEO Won-kyung Kim) announced that it has made a strategic investment in Factagora (CEO Woo-yeol Baek), a startup developing a generative AI fact-checking solution, and that it has been recommended for the Ministry of SMEs and Startups' Global TIPS Program, which resulted in its final selection.
This investment was conducted through a club deal between the Gyeonggi Innovation Center and its global partners, Asia2G Capital and Plug and Play. It is significant in that it represents a collaboration between a public accelerator and a Silicon Valley-based global venture capital firm to support the overseas expansion of Korean startups.
To address the illusion problem, where generative AI generates inaccurate information as fact, Factago is developing technology to verify the truth and timeliness of AI responses. This technology has been validated through demonstrations targeting major domestic law firms and international financial institutions, and the company is pursuing expansion into the North American and European markets, focusing on industries requiring high reliability, such as law, finance, and ESG.
The Gyeonggi Innovation Center, Asia2G Capital, and Plug and Play, which participated in the joint investment, plan to support Factagora's global growth by leveraging their respective expertise and networks. The Gyeonggi Innovation Center will provide government support and infrastructure for R&D and commercialization through its Global TIPS partnership, while the overseas partners will support local network connections and attract follow-up investment.
With this investment and selection as a Global TIPS, Pactagora plans to expand collaboration and validation opportunities, focusing on the North American market, and secure real-world use cases for its AI reliability technology through its product launch scheduled for 2026.
The Gyeonggi Innovation Center announced that it plans to strengthen its full-cycle support, including investment, government support, and overseas network building, to help promising domestic startups grow in overseas markets as a global strategic hub, taking this case as an opportunity.
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