10 Companies Selected for 'AI and Digital Business Partnership'
Office Space and Infrastructure Provided
Completion of Local Business Program Required
The Ministry of Science and ICT announced on the 24th that it has selected 10 companies to participate in the second half of this year in the 'AI and Digital Business Partnership' project, which supports domestic AI and digital startups in expanding into New York, USA. This project will begin on August 25.
This initiative provides participating companies with office space and infrastructure at the 'Global AI Frontier Lab' established at New York University, and supports them in completing the locally specialized AI accelerating program (AIIA) at NYU Stern School of Business. Ten companies are selected and supported in both the first and second halves of the year.
The Ministry of Science and ICT announced on the 24th that it has selected 10 companies to participate in the second half of this year in the "AI Digital Business Partnership" project, which supports domestic artificial intelligence (AI) and digital startups in entering the New York market in the United States. Participants at the meeting are taking a commemorative photo. Photo by Ministry of Science and ICT
A total of 27 companies applied for the second half selection, resulting in a competition ratio of 2.7:1. Among these, companies that received high scores in areas such as technological capabilities and plans for local expansion were selected through expert evaluation and consultation with NYU.
The selected companies for this round are Glorang, Dubu, Resorious, Madup, Sevenpointone, Ad, Enerzai, Ontax Health, Toonsquare, and Petnow.
The companies chosen for the second half will participate in the NYU Stern AIIA program for eight weeks from August 25 to October 23. After completing the program, they will continue their efforts to expand overseas for four weeks by securing locally customized solutions and engaging in investor networking and follow-up connections.
Companies that participated in the first half of the project achieved results such as signing 13 contracts and agreements with local companies and filing three applications in the United States (two patents and one trademark).
The Ministry of Science and ICT held a meeting with participating companies from both the first and second halves on August 22. The first half participants commented that the partnership project was valuable because it allowed them to experience the local system firsthand, and emphasized the importance of thorough preparation and a proactive attitude for the second half participants. The second half participants also noted the significance of having a government-supported base to utilize the local industrial network in New York.
Park Taewan, Director General for Information and Communication Industry Policy at the Ministry of Science and ICT, said at the meeting, "I hope today's gathering serves as a valuable opportunity for participating companies to share and pass on their experiences," adding, "Going forward, we will ensure that such meetings are held for other projects as well, so that the programs can be operated more effectively and provide real support for companies."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
