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Daegu Center for Creative Economy & Innovation Invests KRW 1Bn in Startups

(SEOUL=NEWSIS) The Ministry of Science, ICT and Future Planning announced June 14 that it held an event to introduce the achievement of 16 startups of the 1st class of C-lab over the last six months.

The ministry explained that the 16 startups have completed the incorporation process. A total of KRW 1.06 billion has been invested in the startups of the 1st class of C-lab.

Among the 16 startups, Walnut Co., Ltd. has developed a program that is cheap, speedy and compatible with the old weaving machines to gain competitiveness in the global fabric design program market that is dominated mainly by European countries including the Netherlands and Germany. The company has supplied its program to 460 weaving-related companies in Korea.

Lamda Co., Ltd., a wireless smartphone charger developer, has signed a supply contract with KT and is in the negotiations with SKT and LG U+.

The ministry will support the excellent companies of the 1st class of C-lab by providing KRW 2 million of follow-up investment through C-fund.

The 2nd class of C-lab will begin in July. The ministry will provide business spaces, mentoring services, experts’ lectures and creative camps.

Source Text

Source: Newsis (Jun. 14, 2015)

** This article was translated from the Korean.