Eight Companies Selected to Conduct 1:1 AI Demonstrations Matched with Overseas Companies and Institutions

Eight consortia selected for the 'AI and Digital Transformation Innovation Companies Overseas Demonstration Support Project'
Supporting domestic AI startups in securing demonstration data and expanding into global markets

Eight overseas companies and institutions, including SingHealth, a public healthcare institution under Singapore's Ministry of Health, as well as eight domestic companies possessing artificial intelligence (AI) solutions such as Monit, have been selected as overseas local solution demonstration partners.

On June 17, the Ministry of Science and ICT announced that it had selected eight consortia to participate this year in the 'AI and Digital Transformation Innovation Companies Overseas Demonstration Support Project.' This project supports domestic AI solution providers in demonstrating their solutions at overseas companies and institutions in four key sectors: healthcare, manufacturing, education, and agriculture and livestock.

This project, which is being launched for the first time this year, aims to help domestic startups seeking to expand overseas secure demonstration data, in response to projections that the global AI transformation (AX) market will grow from 355 trillion won in 2025 to 970 trillion won in 2029. The project supports the identification and connection of local demand sources, as well as demonstration costs.

The Ministry of Science and ICT is implementing the project by selecting and supporting two 'demand source-domestic company' consortia in each of the four sectors with high AX demand: healthcare, manufacturing, education, and agriculture and livestock.

The Global Digital Innovation Network (GDIN), an organization supporting overseas expansion of domestic ICT startups, pre-recruited and identified overseas local demonstration demand sources. Fifty-seven companies applied for the domestic company matching process, resulting in a high competition ratio of 7:1.

The selected domestic companies participated in an orientation hosted by the project operating agency (GDIN) on June 13. Starting this week, after signing agreements, they will officially begin implementing demonstration projects, including solution development and on-site testing, with the goal of completing all verification processes by the end of the year.

Park Taewan, Director General for Information and Communication Industry Policy at the Ministry of Science and ICT, stated, "As the advancement and spread of AI is accelerating AX across all industries, promising domestic AI companies now have the opportunity to take the lead in the global market." He added, "Since companies have continuously raised the need for overseas demonstration support, we will actively help them secure timely local references through this project so they can gain a foothold in the global market."