Ministry of Science and ICT Supports AI Technology Development and Commercialization for 20 Teams Including Autopedia

'2022 AI Online Competition' Held

[Asia Economy Reporter Minyoung Cha] The Ministry of Science and ICT announced on the 1st that it has selected 20 teams, including the automobile repair and maintenance application (app) company Autopedia, as recipients of commercialization support following the results of the '2022 Artificial Intelligence (AI) Online Competition.'

This competition was organized to discover prospective entrepreneurs and small and venture companies with excellent AI algorithm development capabilities, to promote AI technology development, and to support commercialization.

A total of 526 teams participating in the competition used AI training data open on 'AI Hub' to select one of 10 problems presented in three categories?image, natural language, and numerical analysis?and developed AI models to attempt problem-solving.

The Ministry of Science and ICT evaluated the competition results and commercialization potential of 40 high-performing teams filtered in the first round, ultimately selecting 8 teams including Autopedia in the image category, 8 teams including Tunip in the natural language category, and 4 teams including Uptier in the numerical analysis category as final recipients of support.

Each team will receive 200 million KRW, totaling 4 billion KRW in commercialization funds, and the first and second place winners in each category will be awarded the Minister of Science and ICT Award and the President of the National IT Industry Promotion Agency Award.

A Ministry of Science and ICT official stated, "Among this year’s awardees, six teams are companies founded this year and are preparing to launch prototypes," adding, "We will provide customized commercialization consulting to help them quickly establish themselves in the market."