AI Startup Competition Finals Held in Gwangju

Jointly Hosted by Gwangju City, Ministry of Science and ICT, and AI Industry Convergence Project Group

[Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] The final round of the AI Startup Competition was held in Gwangju.

On the 16th, according to Gwangju Metropolitan City, the city, the Ministry of Science and ICT, and the AI Industry Convergence Project Group held the "AI Startup Competition Final for the Creation of an AI-Centered Industrial Convergence Complex" event at the Gwangju Kim Dae-jung Convention Center Convention Hall.

The "AI Startup Competition" was promoted to support the activation of AI startups and was conducted with talents gathered from across the country.

First, 28 teams were selected through the preliminary round on the 4th of last month, and 17 teams were chosen through the three-day main round starting on the 28th. From the day before, the final presentation judging was conducted to select the final 10 teams.

The teams participating in the final improved their startup capabilities and items through AI startup education, expert mentoring, and demand company matching consulting, and presented their startup and commercialization plans prepared so far, expressing their determination for successful startups.

Also, the evaluation committee composed of investors and others evaluated the technology and marketability of AI technology-based business items in the automobile, energy, healthcare, and other fields to select the final winners.

The winning preliminary startup team "Parkwave" was selected as the grand prize winner by presenting a parking space management solution using CCTV video analysis technology.

Additionally, "Alio," which received the excellence award, earned high scores with its AI-based personalized advertising recommendation service, and "Crazy Alpaca" proposed an AI-based real estate recommendation service, receiving favorable reviews from judges composed of investors and others.

In particular, "Crazy Alpaca" achieved results such as signing a 200 million KRW investment agreement with Yewon Partners, an early-stage technology startup investor, as the service proposed in the competition received positive evaluations.

At the awards ceremony held on the day of the competition, Jo In-cheol, Deputy Mayor of Culture and Economy of Gwangju City, attended to encourage the successful startups of the final 10 selected teams and presented awards such as the Minister of Science and ICT Award, Gwangju Metropolitan City Mayor Award, and Korea Information Technology Industry Promotion Agency President Award.

Gwangju City plans to support the final 10 selected teams with AI prototype and service production costs worth approximately 500 million KRW.

Deputy Mayor of Culture and Economy Jo In-cheol said, "I hope this competition becomes a valuable experience and wisdom and a precious asset for future growth and development," and added, "We will actively support more excellent prospective AI startup founders to gather at Gwangju's AI Industry Convergence Complex and start their businesses."