'Accelerating Commercialization of New Technologies'... Incheon Free Economic Zone Gains Attention as a Startup Demonstration Space

Demonstrations Underway at Samsung Bio, Central Park Lake, and Incheon Startup Park

Sea purification robot developed by Sheco Co., Ltd.
[Photo provided by Incheon Economic Promotion Agency]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone is rapidly emerging as a proving ground for domestic startups (new venture companies).

The Incheon Free Economic Zone Authority and Incheon Technopark announced on the 26th that they have selected five companies as recipients of a demonstration program supporting the commercialization of startup technologies, providing funding and resources (space).

Demonstration is a process of testing and verifying startups' products or services in real operational environments by utilizing resources such as space, data, and infrastructure.

Able Labs Co., Ltd., which obtained certification as an innovative growth-type venture company last August, is a company possessing intelligent liquid handling robot manufacturing and related software technologies. This company is conducting demonstrations at Samsung Biologics' production facility in Songdo International City, and if successful, it is expected to enable the localization of equipment at less than half the price compared to existing foreign-made equipment.

Additionally, Byeolddareogaja Co., Ltd. is testing a solution that collects operation data from two-wheeled vehicles (motorcycles) to assess safe driving. This technology can be used as a safety driving reward standard for riders, attracting attention from private insurance companies and others to the demonstration results.

Sheco Co., Ltd. is conducting a pilot operation of a semi-submersible structure robot that collects floating debris to clean the sea in Songdo International City. The company is verifying whether it can remove floating debris at a speed more than 10 times faster than existing purification devices, and if performance is proven, plans to test purification functions using ozone.

V-Space Co., Ltd. is installing a station capable of simultaneously charging and exchanging five electric motorcycles and three batteries at the Incheon Startup Park in Songdo International City, conducting tests for service commercialization.

Prototype of Able Labs Co., Ltd.
[Photo provided by Incheon Economic Promotion Agency]

Furthermore, on each floor of the Incheon Startup Park above ground, WithDrive Co., Ltd. is verifying the performance of the pedestrian navigation app "Walkin," which utilizes augmented reality and other technologies. The test checks whether users can receive real-time route guidance through the front display of their mobile phones by entering a destination.

Industry insiders view the Incheon Free Economic Zone as having optimal conditions as a demonstration space, with an airport and port within the zone and a top-level smart city established domestically.

Also, public institutions such as the Incheon Free Economic Zone Authority, Incheon International Airport Corporation, Incheon Urban Corporation, and Incheon Transit Corporation are actively supporting startup demonstrations, which is considered a strong advantage.

Lee Won-jae, head of the Incheon Free Economic Zone Authority, said, "We will actively assist startups to commercialize their products and services early by additionally securing demonstration resources such as space, infrastructure/platforms, data, and experts."