cxo voice
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News Business

Samsung helped grow 426 tech startups via C-Lab programme

News Desk by News Desk
November 24, 2022

Samsung has assisted nurture 426 startups, 182 in-house firms, and 244 outside startups through its Creative Lab (C-Lab) Outside programme since 2018. The 244 outside firms have raised an accumulative investment of 430 billion won from different investors. 

When Joung Ji-won, the founder and CEO of Algocare Lab, decided to apply for a venture incubator programme of Samsung Electronics last year, her startup was in its third year of operation and already recognised for its innovative ideas for personalised nutrition management.

Still, she found it challenging to run and grow her startup in a country where big conglomerates continue to dominate the economy and are often seen squashing or acquiring nascent, small players.

“The most difficult thing was to hire talented people,” Joung told Yonhap News Agency during a press event of Samsung’s Creative Lab (C-Lab) Outside on, a startup acceleration programme to help encourage competent, prospective entrepreneurs outside the tech giant.

“Since joining the (Samsung) programme, it became much easier to recruit good talent,” she said, adding, “New hires said their parents are proud of them.”

Samsung, the world’s largest mobile phone and memory chip maker, began its in-house C-Lab programme in 2012 to incubate creative ideas, turn them into business opportunities and stimulate the country’s startup ecosystem.

ADVERTISEMENT

In 2015, Samsung introduced a spin-off programme for successful in-house startups to encourage employees’ entrepreneurship and go-for-it spirit.

Encouraged by positive responses, the tech giant, in 2018, began C-Lab Outside to nurture external, innovative tech companies younger than five years old by providing them with financial assistance of up to 100 million won ($73,700), office space, mentoring and business consultation and cooperation.

“The purpose of C-Lab Outside is not about making financial gains, but quickly discovering promising young innovators and help them firmly take root and grow into a big tree,” Hahn In-kuk, head of Creativity & Innovation Center at Samsung Electronics, said during the event.

Hahn said Samsung is planning to “scale up” the program starting next year, where it will continuously check up on the growth of the program’s former participants, even after the one-year program ends, and make an investment, if necessary.

Lee Sang-min, CEO of Neubility, which makes autonomous delivery robots, said he found Samsung’s counseling service most helpful for running his five-year-old startup.

“There are many critical moments when a strategic decision needs be made timely, and it was a huge relief that I could get help and mentoring services from Samsung,” said Lee, a graduate of mechanical engineering at Yonsei University.

He said his nascent venture was neither well-organized nor had the necessary manpower before participating in the programme.

“We hadn’t even had a chief financial officer up until we had about 30-40 employees,” he said.

Neubility, founded in November 2017, successfully secured an investment total of 23 billion won this year, with the help of Samsung. The company now employs 75 people.

A pioneer in developing self-driving delivery robots in South Korea, the company has teamed up with Samsung Welstory, a Samsung catering subsidiary, to launch food delivery by robotic couriers in golf clubs.

Already 54 such autonomous robots, called “Neubie,” which are equipped with a camera system that enables them to perceive their environment and detect obstacles, are in service around the country. The startup is set to sign a deal to launch an additional 100 robots at golf courses, according to Lee.

Disclaimer: Only the headline and image of this article may have been edited by CXOvoice; the rest of the content is generated from a syndicated feed.

Also Read: The Emergence of Spyware, Zero Click Attacks, Smishing, and Store Security

News Desk

News Desk

by CXO VOICE team memebrs, [email protected]

Related Posts

AMD Sanmina
Business

AMD to Sell ZT Systems’ Manufacturing Business to Sanmina for $3 Billion

May 20, 2025
Red Hat AI NVIDIA
AI

Red Hat Empowers Agentic AI with Support for NVIDIA Enterprise AI Factory

May 20, 2025
Qualcomm Advantech
Business

Qualcomm and Advantech Join Forces to Accelerate AI for IoT Applications at COMPUTEX 2025

May 20, 2025
Tech Mahindra
Press Release

Tech Mahindra Achieves Red Hat Premier Partner Status Globally

May 20, 2025
Kiran Cherukuri
People

HCLTech Appoints Kiran Cherukuri as New Global GCC Practice Leader to Drive Innovation and Growth

May 20, 2025
NetApp NVIDIA
Business

NetApp and NVIDIA Partner to Enhance AI Adoption with the AIPod Solution for Streamlined Data Management

May 19, 2025
GIGABYTE at COMPUTEX 2025
Press Release

GIGABYTE at COMPUTEX 2025: Accelerating the AI Future With Total Infrastructure and Computing Solutions

May 19, 2025
NVIDIA AI
AI

Taiwan AI Revolution: Foxconn and NVIDIA Team Up to Launch Cutting-Edge AI Factory

May 19, 2025
Load More
ADVERTISEMENT

Latest Updates

AMD Sanmina

AMD to Sell ZT Systems’ Manufacturing Business to Sanmina for $3 Billion

by Deepa Sharma
3 hours ago

Red Hat AI NVIDIA

Red Hat Empowers Agentic AI with Support for NVIDIA Enterprise AI Factory

by Deepa Sharma
3 hours ago

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

by Sundar Balasubramanian
3 hours ago

Qualcomm Advantech

Qualcomm and Advantech Join Forces to Accelerate AI for IoT Applications at COMPUTEX 2025

by Deepa Sharma
4 hours ago

Tech Mahindra

Tech Mahindra Achieves Red Hat Premier Partner Status Globally

by News Desk
6 hours ago

Kiran Cherukuri

HCLTech Appoints Kiran Cherukuri as New Global GCC Practice Leader to Drive Innovation and Growth

by Deepa Sharma
8 hours ago

Expert Views

Opinion

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

May 20, 2025
Molly Sands AI
AI

AI RIP: 5 Things Knowledge Workers Will Say ‘Sayonara’ to in the Next Decade

March 8, 2025
multi cloud
Cloud

Multi-Cloud Made Simple: Strategies for Smart Business Management

March 5, 2025
Soft Skills
Opinion

Soft Skills and Technical Know-How: A Winning Combination in the Tech Industry

March 4, 2025
Digital Freedom
Cyber Security

Your Data, Their Gold: The Silent Battle for Digital Freedom

February 25, 2025

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Interviews

Steve Wilson, GenAI Cybersecurity LLMs
Cyber Security

How effective is GenAI in cybersecurity? The role of LLMs and AI in security solutions. [Interview with Steve Wilson]

-
Interview on Counterfeit products with Nikhil Narayan
Leaders Talk

Advancements in ML & AI made it possible to detect counterfeit products in real-time, says Nikhil Narayan

-
Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami
Leaders Talk

Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami

-
AI chatbots, Prasanna-Kumar
Leaders Talk

Can AI chatbots enhance customer experience and reduce the cost of serving customers?

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

CXOVoice.com is a leading online publication for CXOs, entrepreneurs, senior leaders, developers, and industry professionals. Our coverage spans key sectors, including IT, technology, banking, finance, cybersecurity, engineering, and automobiles.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]
  • Home
  • About Us
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

Copyright © 2025 CXOVoice - All Right Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release

Copyright © 2025 CXOVoice - All Right Reserved