KT to Host VR Startup Contest...Applications Open Until 24th Next Month

[Asia Economy Reporter Koo Chae-eun] KT announced on the 30th that it will hold the virtual reality (VR) service contest ‘IM Super VR (I AM Super VR)’ together with the Incheon Creative Economy Innovation Center. This contest is hosted by the Incheon Innovation Center and sponsored by KT and the Gyeonggi Creative Economy Innovation Center.

This contest was organized to discover excellent VR items that can create synergy with KT’s personal VR service ‘Super VR’ and to support their commercialization. Independent VR services, solutions, and products that can be commercially launched within the year through Super VR are eligible for selection. Any company within seven years of establishment that possesses outstanding VR items can participate.

About four companies will be selected through document screening and presentation evaluations. Selected companies will receive a total prize of 33 million KRW and 50 million KRW in commercialization support funds, along with opportunities to distribute services through Super VR.

Additionally, companies registered as incubatees of the Incheon Innovation Center will be granted eligibility to move into startup spaces, and will receive follow-up support in various areas such as R&D, marketing, overseas expansion, and investment attraction. Park Jung-ho, Executive Director of IM Business at KT’s Customer Business Division, stated, “We expect to discover many competitive VR items that can expand the Super VR service area through this contest,” adding, “As Korea’s leading VR platform operator, KT will strengthen sincere cooperation with various developers and promising small and medium enterprises in the VR field and take a leading role in revitalizing the immersive media industry ecosystem.”

Companies wishing to participate in the contest can submit their application forms via email from March 30 to April 24 by 3 PM. The final results will be announced on May 21 through the Incheon Creative Economy Innovation Center website after the first document evaluation and the second presentation evaluation.