cxo voice
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
No Result
View All Result
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
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
Reading Time: 3 mins read
Share on FacebookShare on Twitter

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, contact@cxovoice.com

Related Posts

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain
Business

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain

March 28, 2023
SUN Mobility and Zomato collaborate to power 50K electric 2-wheelers for food delivery
Business

SUN Mobility and Zomato collaborate to power 50K electric 2-wheelers for food delivery

March 27, 2023
Will never share US user data with China, says TikTok CEO
Business

TikTok CEO says, will never share US user data with China

March 24, 2023
China's smartwatch shipments declined by 9.3% in 2022: Report
News

China’s smartwatch shipments declined by 9.3% in 2022: Report

March 23, 2023
Hybrid workplace
News

78% of professionals heading back to the office by choice

March 23, 2023
Adobe
News

Adobe unveils generative AI to enhance customer experiences

March 22, 2023
Cybersecurity While Working from Home amid Coronavirus outbreak
Cyber Security

Hackers targeted Google, Microsoft products via zero-day exploitation in 2022: Report

March 22, 2023
cybersecurity
Cyber Security

Google suspends shopping app ‘Pinduoduo’ after finding malware in versions

March 21, 2023
Load More
ADVERTISEMENT

Expert Views

SaaS Rising: India is Ready for its Next IT Moment
Opinion

SaaS Rising: India is Ready for its Next IT Moment

January 31, 2023
Technology remains the main driver for insurance companies to scale and grow in 2023
News

Technology remains the main driver for insurance companies to scale and grow in 2023

January 10, 2023
Supply Chain Attacks – The Open Source Effect
Cyber Security

Supply Chain Attacks – The Open Source Effect

January 3, 2023
Technology Trends to Watch in 2023
Opinion

Top Technology Trends to Watch in 2023

December 21, 2022
Startups should embrace a down-round and restructure their firms: Flipkart CEO
Business

Startups should embrace a down-round and restructure their firms: Flipkart CEO

November 22, 2022

Latest Updates

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain

by IANS
23 hours ago

SUN Mobility and Zomato collaborate to power 50K electric 2-wheelers for food delivery

SUN Mobility and Zomato collaborate to power 50K electric 2-wheelers for food delivery

by IANS
2 days ago

Will never share US user data with China, says TikTok CEO

TikTok CEO says, will never share US user data with China

by IANS
5 days ago

China's smartwatch shipments declined by 9.3% in 2022: Report

China’s smartwatch shipments declined by 9.3% in 2022: Report

by IANS
6 days ago

Hybrid workplace

78% of professionals heading back to the office by choice

by IANS
6 days ago

Adobe

Adobe unveils generative AI to enhance customer experiences

by IANS
1 week ago

Get Latest Update

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

ADVERTISEMENT

Leaders Inerviews

Rising cyber attacks pose a serious threat to Indian SMBs, says Zakir Hussain
Cyber Security

Rising cyber attacks pose a serious threat to Indian SMBs, says Zakir Hussain

-
Axis Bank's Cloud-driven digital banking solutions
Banking

Axis Bank doubles down on cloud based digital banking solutions

-
digital-first strategy
Banking

Jana Small Finance Bank’s digital-first strategy enhances customer experience

-
email security interview
Cyber Security

What is email security? and its importance in securing enterprise networks

-

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

We bring business leaders' opinions and unique ideas on what’s happening in the market and its impact. Also, get the daily news, analysis, and insights.

Connect with us

Easy Links

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

Write Us

contact@cxovoice.com
  • Home
  • About
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

© 2023 CXO VOICE

No Result
View All Result
  • Home
  • News
  • Expert Opinion
  • Leaders Talk

© 2023 CXO VOICE

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/