"Searching for Innovative Startups" Samsung Electronics Announces 7th C-Lab Outside Contest

Contest Open Until August 14... Recruiting in 8 Categories

Samsung Electronics is launching the external startup incubation program 'C-Lab Outside' contest to discover future-leading innovative startups.

On the 22nd, Samsung Electronics announced that it will hold the 7th C-Lab Outside contest from today until July 14. C-Lab Outside is an external startup incubation program by Samsung Electronics that has been ongoing since 2018.

The contest will be held simultaneously in four regions: Seoul, Daegu, Gyeongbuk, and Gwangju. It seeks outstanding startups in eight fields: Artificial Intelligence (AI), Robotics, Internet of Things (IoT) devices, Digital Health, Content & Services, Mobility, Materials & Components, and Environment, Social, and Governance (ESG). Startups registered as corporations in Korea and at investment stages Series B or below can apply through the Samsung Electronics C-Lab website.

Selected startups in C-Lab Outside will receive comprehensive support including business collaboration opportunities with Samsung Electronics, capability development, and consulting to enhance business competitiveness. In particular, Samsung Electronics plans to actively provide business cooperation opportunities such as business meetings with relevant business divisions and Proof of Concept (PoC) for startups with potential for business linkage. For example, the space service startup 'Pinpoint (PNPT)', selected in the 6th round, is collaborating to provide a space experience mobile solution linked with Samsung Electronics' building integration solution 'b.IoT'.

This year, Samsung Electronics established the 'C-Lab Outside Consulting' program in connection with the Samsung Win-Win Cooperation Academy to provide more specialized consulting. This program offers one-on-one close consulting by matching startup teams with experts from six fields including software (SW), mechanical, human resources, and finance from the academy. Academy mentor experts coach startups for 3 to 4 months on improvement points and ways to strengthen competitiveness.

Samsung Human Resources Development Institute's 'CPS' program has also been applied to C-Lab Outside startups. It provides expert consulting in customer experience, technology development, and business strategy formulation to help achieve tangible results.

Up to 100 million KRW in business support funds are provided without equity acquisition. Startups are given dedicated workspaces and opportunities to participate in domestic and international IT exhibitions such as the world's largest IT and home appliance exhibition, CES. Benefits include free transfer or licensing of patents owned by Samsung Electronics.

Park Hak-gyu, President of Samsung Electronics' Management Support Office, said, "Samsung Electronics will accelerate efforts to discover capable startups that can create successful cooperation cases."

Samsung Electronics introduced the in-house venture incubation program 'C-Lab Inside' in 2012. Since 2015, it has operated a spin-off system to allow excellent in-house venture projects to become independent startups. In 2018, C-Lab Outside was established. The C-Lab Family system is operated to enable mutual cooperation even after graduation and spin-off from C-Lab Outside. Through this, Samsung has nurtured a total of 912 in-house ventures and startups (406 in-house and 506 external) to date.