SparkLabs to Host 'Demo Day 20' on the Afternoon of the 20th
"Living in the world of startups feels like being in a movie." This statement by Ho-min Kim, CEO of SparkLabs, encapsulates the reality that South Korea's startup industry is currently facing. There is drama, and sometimes action is needed. Above all, a crisis is inevitable. Kim said, "The journey of a startup is essentially a story of a strong team embarking on an adventure to change the world," adding, "They go through tremendous hardships." At a time when venture investment has significantly contracted, perhaps the role of SparkLabs, a leading domestic accelerator, is to act as a helper to navigate through this crisis. This is why SparkLabs held 'Demo Day 20,' bringing promising startups and investors together in one place.
On the 20th, at the Demo Day event held at the COEX Auditorium, CEO Kim said, "The journey of a startup reaches unimaginable distant places like a movie, and along the way, the team grows stronger by meeting new people," adding, "Here, SparkLabs acts as a helper providing resources and advice when startups face difficulties."
This role is represented by the Batch program, built on SparkLabs' experience, know-how, and data accumulated over 11 years of supporting numerous startups. SparkLabs operates this program twice a year. Each batch selects about 10 startups and provides an 18-week acceleration program. A dedicated team supports each startup with specialized coaching to help them find Product-Market Fit (PMF).
At this Demo Day, startups that participated in the 20th batch program held in the first half of this year and received coaching from SparkLabs, as well as startups that attracted investment through various funds operated by SparkLabs, presented their businesses. Founders from 10 startups, including S-Lab Asia, Fluent, Itmaple, UUUUU, LookInsight, QueenLive, Asta, VanillaBrain, K-Zone, and MuseLive, took the stage. The participating startups operate in diverse fields such as AI content, healthcare, cold chain, commerce, and 3D motion capture solutions. In these areas, startups are preparing to create new changes.
For example, Ye-chan Jeon, CEO of Fluent, which developed a 3D avatar motion capture solution, said, "We can implement virtual humans on PC and mobile environments without equipment," adding, "We want everyone to have their own Iron Man 'Jarvis'." Hyun-ji Kim, CEO of Itmaple, which creates data-driven patient meals, introduced, "Currently, patient meals focus on nutrition but lack taste and are difficult to consume continuously," adding, "We provide patient condition-tailored dietary therapy services based on data."
Although the startups on stage operate in different fields, they share the fact that they are still in the early stages. Like the beginning of a movie, it is still unknown how the story will unfold. They may succeed or ultimately fail to bear fruit. CEO Ho-min Kim said, "Just as not all movies end happily, it is not easy to watch startups go through hardships," adding, "But the most popular movies have tremendous plot twists. Instead of saying 'The End,' we will prepare for their next adventure with the phrase 'To be Continued.'"
At the event, Hyun-man Choi, Chairman of Mirae Asset Securities, who gave a congratulatory speech, encouraged the attendees by saying, "When change comes, we look for opportunities, but I want to add the word 'strategic' in front of that opportunity," adding, "If we find strategic opportunities amid change and work hard, we can succeed."
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