KITA and LG Group Promote Technology Cooperation between Large Companies and Startups
- Held open innovation event with 8 companies of LG Group for joint R&D with startups -
The Korea International Trade Association (chairman, Kim Young-joo) held ‘LG-Startup Tech Fair with KITA’, a startup open innovation event, at LG Science Park in Magok-dong, Gangseo-gu, in cooperation with LG Group on October 22.
20 startup companies based on Korea’s promising technologies participated in the event and sought possibilities for joint research and development research with employees and executive members of 8 affiliates of LG Group (LG Electronics, LG Chem, LG Display, LG Innotek, LG Hausys, LG Household & Health Care, LG Uplus and LG CNS).
The startups equipped with technologies, such as Solip Tech that has developed the flexible hard coating which is the core technology for the foldable display, Basearth which has fine dust-absorbing material technology, and Syntekabio that provides a platform for new drug development using Artificial Intelligence (AI) and Big Data participated in consultations.
The Korea International Trade Association organized this event with LG Group as it believed that it was urgent to create a sound startup ecosystem for innovation growth and creation of quality jobs. LG Group’s each affiliate is strengthening its efforts to find competitive startups in Korea as well as abroad through equity investments, joint R & D, incubation, and contests.
An official at the Korea International Trade Association said, “In the era of the Fourth Industrial Revolution, large companies and startups should be able to combine their strengths to create synergy of innovation. KITA will play a role as a bridge to boost collaboration between large companies and startups and build mutual trust between them.”