Gyeongbuk Center for Creative Economy and Innovation (hereinafter referred to as Gyeongbuk Center) announced that it selected the final five startups for the open innovation program 'DB G-Star Hub' jointly promoted with DB Insurance and held a kickoff event at the DB Financial Center in Seoul on April 30.
'DB G-Star Hub' is an open innovation program that aims to foster insurtech companies, discover startups that can apply innovative technologies such as AI, big data, and platforms to the insurance industry, and provide opportunities for practical collaboration with DB Insurance's business departments.
The competition was held for about a month in February, and a total of 154 companies applied, recording a high competition rate of 30.8:1. Then, in early April, 11 startups that passed the written evaluation were evaluated for business viability, innovation, growth potential, etc., and the final 5 companies were selected.
The selected companies are ▲StepHowAI Co., Ltd., basic knowledge management system (KMS), ▲PicanSoft Co., Ltd., water damage prediction and automatic compensation solution, ▲Datamond Co., Ltd., AI coaching chatbot for insurance designers, ▲IndieJ Co., Ltd., senior mental health AI care platform, ▲OnusLinkIt Co., Ltd., two-wheeled vehicle loss rate reduction loss assessment automation solution, and a total of five companies were finally selected. These companies will be connected with DB Insurance's field departments to participate in follow-up linkage programs such as PoC and investment review.
Each startup that has completed mentor-mentee matching through the DB G-Star Hub Kickoff Day plans to proceed with deriving collaborative tasks and conducting PoC (Proof of Concept).
The event was attended by about 20 people, including Gyeongbuk Creative Economy Innovation Center CEO Lee Moon-rak, DB Insurance Strategy Innovation Headquarters Director Shim Jin-seop, and representatives from both organizations and startups.
Gyeongbuk Creative Economy Innovation Center CEO Lee Moon-rak said, “We have verified the technological prowess and collaboration potential of the startups that were selected through high competition from various angles, and based on this, we plan to actively support them so that they can lead to actual joint ventures between large corporations and startups.”
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