Attendees are taking commemorative photos at the '2022 C Lab Startup Demo Day' held by Samsung Electronics at the Samsung Electronics Seoul R&D Campus in Seocho-gu, Seoul on November 24, 2022.
# 'AlgoCare', which provides real-time, one-on-one personalized nutritional management services based on healthcare artificial intelligence (AI), was founded in 2019. It analyzes 142 types of health information, including physical information, lifestyle habits, and real-time physical condition, and provides the necessary nutritional supplements. Its technological prowess was also recognized to the extent that it was selected as a baby unicorn by the Ministry of SMEs and Startups this year. Samsung Electronics' C Lab Outside was a strong supporter of AlgoCare's success. Assisted with problem solving and actual service technology development.
# ‘Newbility’, an urban delivery service using self-driving robots, struggled at the beginning of its startup, but achieved rapid growth through support from C Lab Outside for a year. To date, it has attracted 26.8 billion won in investment and plans to begin full-scale commercialization focusing on convenience stores and chicken delivery.
The 'C Lab (Creative Lab) program' operated by Samsung Electronics to revitalize the domestic startup ecosystem and support entrepreneurship is bearing fruit.
Samsung Electronics launched 'C Lab Inside' for executives and employees in 2012 to spread a creative organizational culture, and since 2018, it has been operating 'C Lab Outside' to support external startups as part of 'economic revitalization and job creation measures'. It's in progress. Innovative technology helps society develop.
To date, a total of 506 projects have been supported, including 304 external startups through 'C Lab Outside' and 202 in-house venture projects through 'C Lab Inside'.
Samsung Electronics C-Lab was selected as the best company in in-house venture operation by the Ministry of SMEs and Startups for two consecutive years (2020-2021), and last year, it was selected as an 'exemplary case of fair trade agreement implementation' by the Fair Trade Commission.
◇ “There is no disadvantage even if you fail”… C Lab Inside, helping you take on bold challenges
C Lab Inside is an in-house venture program introduced by Samsung Electronics at the end of 2012 to spread creative organizational culture. We provide opportunities for employees with creative talent and passion to implement their ideas. Since the introduction of the system in December 2012, 1,583 executives and employees have participated in 385 tasks.
If you are selected as a C Lab Inside project, you will receive support such as independent research space, research funds, and autonomy in project operation so that you can leave your field for one year and focus on implementing your idea. You are not evaluated during the assignment, but you receive a grade based on the results of the assignment, and there are no disadvantages if you fail.
If the results of the assignment are used for various projects within the company, incentives are received. So far, C-Lab project technology has been applied to Galaxy upcycling, eco-packaging, lifestyle TV 'The Sero', mobile phone cameras, and Samsung Pay.
Executives and employees submit more than 1,000 ideas every year on various topics such as AI, autonomous driving, and social contribution.
Samsung Electronics has also been supporting C Lab Inside's startup independence since August 2015 so that excellent ideas within the company can grow into innovative startups without being lost.
Through the C Lab spin-off system, we provide initial business funds and start-up support as well as the opportunity to re-enter the company within 5 years. To date, we have supported the spin-offs and start-ups of 61 startups and created about 540 jobs.
The average 3-year survival rate of domestic startups is 41.5% and the average 5-year survival rate is 29.2%, but the 3-year survival rate of C-lab spin-off startups is 98% and the 5-year survival rate is 65%.
Samsung Electronics introduced C Lab's various innovative products and solutions for the first time at 'KES 2022 (Korea Electronics Show)' held at COEX in Seoul from October 4 to 7, 2022.
◇ “Ideas into reality”… C Lab Outside, startup support
Samsung Electronics began operating the external startup development program ‘C Lab Outside’ in 2018 as part of its ‘economic revitalization and job creation plan’.
The goal is to foster a total of 500 internal and external startup tasks, including nurturing 300 external startups and supporting 200 internal employee startup tasks (C Lab Inside) through 'C Lab Outside' over the next five years.
We provide full support from technical support to investment attraction so that innovative startups can grow successfully. It also provides an opportunity to explore business cooperation with Samsung Electronics.
Depending on the startup development program in each region, you can receive △free office space △mentoring from Samsung Electronics experts △support for participation in global exhibitions △subsidy of up to 100 million won for about 6 months to 1 year.
From 2018 to present, 304 startups have been fostered through ‘C Lab Outside’. Last month, 20 new startups with growth potential and expertise were selected.
The 20 startups selected through a competition rate of 38 to 1 are △'Rebuilder AI', which creates high-quality 3D models using smartphone cameras, △'Turnpike', a multi-chain solution company that supports connections between heterogeneous blockchains, and △Sleep. These include 'A Sleep', which improves habits and sleep environment, and 'Awake Corporation', which provides SNS analysis and advertiser management solutions for creators.
In particular, in order to strengthen ESG, we have also discovered a number of startups in the environmental field, such as 'Inertia', which develops biodegradable eco-friendly absorbents that do not emit microplastics, and 'Blue Labs', which develops eco-friendly water purification agents using oyster shells.
Meanwhile, Samsung Electronics' CSR vision is 'Let's go to the future together! Under 'Enabling People', we are carrying out win-win activities such as C-Lab Outside, Samsung Future Technology Development Project, Smart Factory, and Partner Company Win-Win Fund, as well as youth education and social contribution activities.
