Samsung Financial Networks announced on the 29th that it has selected 16 startups to advance to the finals of the '2024 Samsung Financial C-Lab Outside.'
Operated jointly by four Samsung financial companies?Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, and Samsung Securities?and Samsung Venture Investment, 'Samsung Financial C-Lab Outside' is a representative open innovation program created collaboratively by startups and Samsung financial company practitioners. Until last year, it was operated under the name 'Samsung Financial Open Collaboration,' but the name was changed to 'Samsung Financial C-Lab Outside' to expand the 'Samsung Electronics C-Lab Outside' program into the financial sector, aiming to strengthen support and collaboration.
On the 29th, at the Samsung Financial Campus in Seocho-dong, representatives of the startups advancing to the finals and officials from various Samsung Financial Networks companies are taking a commemorative photo at the congratulatory event for the finalists of the '2024 Samsung Financial C-Lab Outside'.
This year, 387 startups applied for the program. After evaluations by each financial company, a total of 16 startups were finally selected. The number of participating companies increased by approximately 22% compared to the previous year.
Looking at the tasks supported by each financial company, Samsung Life Insurance and Samsung Fire & Marine Insurance mainly received proposals focused on enhancing healthcare services and improving work efficiency through artificial intelligence (AI) services. Samsung Card and Samsung Securities received numerous ideas aimed at enhancing platform competitiveness and expanding business areas.
Samsung Life Insurance selected four companies: ▲Gajilab (developing personalized wellness curation technology) ▲Doctor Diary (developing a blood sugar platform and related products and solutions business) ▲Ilmanbaekman (AI-based video generation service) ▲Impactive AI (AI-based demand forecasting and inventory management solution).
Samsung Fire & Marine Insurance selected four companies: ▲Gogo F&D (mobility AI safe driving solution using IoT sensors) ▲Iris Frontier (AI chatbot development for improving work productivity) ▲Tokkiwa Dukkeobi (senior daily assistant service 'Ddokbi') ▲Lydia AI (AI-based optimal surcharge model development).
Samsung Card selected four companies: ▲Lucent Block (real estate token securities trading platform 'Soyu') ▲Earnest AI (AI-based risk management and strategic operation solution) ▲KRG Group (commercial lease monthly rent guarantee solution) ▲Conexio H (alternative credit evaluation model development based on e-commerce data).
Samsung Securities selected four companies: ▲Big Value (real estate MyData-based price estimation solution) ▲Antok (promising unlisted corporation discovery solution) ▲G Enterprise (tax refund and tax automation solution) ▲Two Digit (AI hyper-personalized content service solution).
The 16 startups advancing to the finals will each receive a support fund of 30 million KRW and will collaborate with the practical departments of Samsung financial companies over the next four months to concretize their proposed business ideas. Following this, based on the results of the four-month period, a final presentation will be held in October, where one team from each financial company, totaling four teams, will receive an additional congratulatory prize of 10 million KRW each. Discussions on follow-up projects will also take place. Additionally, the 16 startups advancing to the finals will have the opportunity to receive equity investment after further evaluation.
A Samsung Financial representative said, "We extend our gratitude and congratulations to the executives and employees of the startups who have embarked on a new journey toward the future with Samsung Financial. Samsung Financial Networks will work together to find the key to opening the future of finance through collaboration."
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