Kyowon Group Successfully Hosts Startup Demo Day... "Will Produce Win-Win Cases"

Final Performance Presentation of 6 Companies Participating in the 3rd Term and 1st In-house Startup
1st Place ‘Cleon’, Collaborates with Kyowon Group to Develop ‘AI Tutor’ Content

Kyowon Group (Chairman Jang Pyeongsun) announced on the 17th that it successfully held the '3rd Kyowon Deep Change Startup Prize Demo Day' event. Photo by Kyowon Group

[Asia Economy Reporter Kim Heeyoon] Kyowon Group (Chairman Jang Pyungsun) announced on the 17th that it successfully held the ‘3rd Kyowon Deep Change Startup Prize Demo Day’ event.

To secure differentiated future innovative technologies and support the growth of startups and the activation of the industrial ecosystem, Kyowon Group conducts the ‘Deep Change Startup Prize’ annually. The ‘Deep Change Startup Prize’ is an open innovation platform through which Kyowon Group discovers and supports startups with excellent technological capabilities and business models.

At this 3rd Demo Day, the final results of a total of 7 selected companies were shared. Among the startups recruited through the contest held in April, 6 teams that overcame a competition rate of 41 to 1 competed.

Additionally, the ‘TOCK’ team, which won the in-house venture program conducted by Kyowon Group for the first time this year, attended, making a total of 7 teams present for the business model presentation (IR). Venture capitalists (VCs) and accelerators (ACs) participated as judges to discuss the investment potential of each company in the future. Due to strengthened quarantine measures following the escalation of social distancing levels, the event was held online via YouTube in an ontact format. It was also open to the general audience for interactive communication.

Kyowon Group confirmed a total investment of 1.9 billion KRW and awarded prize money of 45 million KRW to the companies selected at this Demo Day.

The 1st place Deep Change Award went to ‘Cleon,’ which provides deep learning video solutions, and the 2nd place Miracle Award was awarded to ‘Interiorteacher,’ an interior designer matching platform. Cleon, equipped with text-to-speech and video synthesis technology capabilities, presented a collaborative case of producing ‘AI Tutor’ content with Kyowon Edu, receiving great acclaim.

In addition, the Next Unicorn Award was given to the metaverse education platform ‘Marvelous,’ and the Excellence Award went to the indoor cycling live coaching startup ‘Fever.’ The AI-based travel scheduling planner ‘Myro’ and the kids activity platform ‘Aegiya Gaja’ received Innovation Awards.

A Kyowon Group official said, “Over the past six months, we have participated in programs to jointly develop technology and business with the 7 selected startups and verify business feasibility, continuously exploring future collaboration possibilities,” adding, “We will continue to produce win-win cases between Kyowon Group and startups by exchanging knowledge and information with innovative and capable startups.”