IoT Biz Factory Stage One Begins, Five Enterprises to Compete At GSC 2016


Stage one of the IoT pre-project ‘IoT Biz Factory’ operated by Gyeonggi Innovation Centre over the past three months, started on the 21st.

IoT Biz Factory is a project created by Gyeonggi Innovation Centre, Gyeonggi Culture Product Lab (Seongnam Industry Promotion Foundation), and Seongnam City for building IoT startups an international mass production network. Ten teams gave a speech on the day and five teams were chosen.


Participants of ‘IoT Biz Factory’ Stage One

IoT Biz Factory detailed and verified the business models of the participating startups, and helped in making trial products (circuit design, illustration design, and tool design) and models for demonstration. It also visited an IoT mass production manufacturer in Shenzhen, China in August.

Woo Sangyu, a director from an investing company, attended the demo day and commented, “It’s very impressive to see so many interesting ideas. Every startup understands the market deeply. I hope they will perform well.”

The five chosen enterprises will be disclosed later and will compete with each other at GSC 2016 in November. Demo day will take place at the end of IoT Biz Factory stage one. The ten teams chosen in stage two in September will start their domestic guidance and international project this month.

<10 Demo Day Teams>

BICQ: bike related smart devices

Onenth Institute: smart tape measure service

Sync Space: voice recognition home switches

Goqual: smart switches based on WiFi

Encube: portable action simulation VR

Smap: modular agricultural switches

JE Lab: step stretching exercise solution

GS Shop: smart helmet

SCHAFFENGOTT: vehicular smart device

IDL: kid activity monitoring IoT device

Project director Koo Minsin stated, “When the project is over, excellent startups will be discussed and chosen as conservation enterprises to attend projects in the Gyeonggi Innovation Centre such as investment demo day, VC connect, international promotion, marketing, and will then receive subsequent support.”