34 Korean SMEs and Venture Companies Win '2020 CES' Innovation Awards

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development announced on the 20th that 34 domestic small and venture companies won innovation awards at the world's largest home appliance and information technology exhibition, '2020 CES.'

This CES was held in Las Vegas, USA, from the 7th (local time) to the 10th. The event organizers announced innovation award winners for 464 products in 28 fields including healthcare and robotics. Domestic companies won innovation awards for 101 products from 44 companies.

The number of companies was in the order of small and venture companies (34), large companies (6), medium-sized companies (2), and universities (2). Among them, small and venture companies including startups accounted for about 77% of the total, a high proportion. Among the award-winning companies, 24 startups were found to have been established for less than 7 years.

In particular, all 34 small and venture companies awarded this time were found to have received support from the Ministry of SMEs and Startups. These companies participated in projects such as the public-private joint startup founder discovery and nurturing project, the startup leap package project, and the export voucher project. IoT-based modular smart farm company 'Nthing' and bacteria detection IoT sensor developer 'The Wave Talk' were among the honored awardees.

Cha Jeong-hoon, Director of Startup and Venture Innovation at the Ministry of SMEs and Startups, said, "The secret to success for not only companies that won CES innovation awards but also excellent technology startups is steady patience and continuous innovation," adding, "The Ministry of SMEs and Startups will also spare no continuous support so that promising startups can thrive in the global market in the future."