The Korea Electronics and Telecommunications Industry Promotion Association (KEA) announced on the 28th that it will be recruiting distribution and logistics startups to participate in the '5th E-Commerce Pitching Festa' until the 14th of next month. A total of 10 teams, including the Minister of Trade, Industry and Energy Award, will be selected and awarded a total of 9 million won in prize money.
The eCommerce Pitching Festa is Korea's first retail tech-specialized growth platform that opened in 2021. It is an event created to discover AI-based next-generation distribution-logistics technologies and services to strengthen the competitiveness of the distribution industry. It is hosted and organized by the Ministry of Trade, Industry and Energy and KEA, and sponsored by BNK Venture Investment, P&P Investment, L&S Venture Capital, Cafe24, Market Link, Doosan C&I, Kotec Electronics, Tencube, and the Korean Distribution Association.
The recruitment target is AI-based distribution and logistics technology development and service companies. Any company that creates or operates AI-based services that support overseas expansion of distribution and logistics companies can participate. Companies with technologies that can support overseas market entry quickly and efficiently by automating tasks such as market research, marketing, sales, logistics, customs clearance, certification, finance, and law using AI are selected.
Applications will be accepted through the Korea Electronics Association (KEA) website until May 14. Afterwards, an evaluation committee comprised of experts in distribution, investment, and technology will review the documents to select 10 companies to advance to the final round.
The 10 selected teams will perform on the main stage of the E-Commerce Pitching Festa, which will be held at COEX in Samseong-dong, Seoul for three days from June 11 to 13. They can participate in the exhibition for three days, and on the last day of the event, the 13th, there will be a final presentation and evaluation for the audience. Each team will have a five-minute presentation and a five-minute Q&A session.
In addition to awarding cash prizes, selected companies will be provided with R&D connections, networks, and promotions. Technology development and verification will be supported in conjunction with distribution AI technology development R&D projects. When selecting technology development companies for AI model development, there will be benefits of awarding bonus points to the winning companies. In addition, networking events consisting of domestic distributors, investors, and distribution technology companies will be held, and legal reviews and education for contracts, etc. will be supported.
In the last e-commerce pitching festival, which was held four times, 269 distribution logistics technology companies were discovered. There were also achievements. They carried out R&D projects such as ‘application of logistics center fast delivery route recommendation service’ and ‘autonomous driving robot verification.’
The Korea Electronics and Telecommunications Industry Promotion Association, together with the Ministry of Trade, Industry and Energy, will be in charge of the Distribution AI Startup Alliance division at the 'Distribution and Artificial Intelligence (AI) Alliance Launch Ceremony' held in the medium-sized conference room of the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on April 23rd. They plan to continuously have AI technology companies and distribution companies collaborate, develop and verify AI solutions that can be applied in actual distribution sites, and foster distribution AI startups through the E-Commerce Pitching Festa.
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