Samsung introduces 18 new startups selected under the C-Lab Outside program
Samsung held the 2019 C-Lab Outside Demoday event at its R&D Campus in Seocho-gu, Seoul, yesterday. At the event, the company introduced 18 new startups that were selected through the C-Lab Outside contest in August this year. These startups cover diverse business areas such as AI, lifestyle, VR / AR, healthcare, etc.
More than 300 attendees comprising of startup representatives, influential investors, and Samsung officials attended the event. Twenty startups that were selected under the C-Lab Outside program last year showcased their products and services to investors. These startups received guidance and support, ranging from technical know-how to investment, from C-Lab for the past year.
For those unaware, Samsung’s C-Lab (Creative Lab) is an in-house startup incubator that enables employees to turn their innovative ideas into products by offering them resources and support services. Last year, the company expanded the scope of the initiative by launching C-Lab Outside – a startup support program to assist outside startups. The company aims to support a total of 500 projects, including 300 external startups, in the next four years.
Startups selected under the C-Lab Outside program can stay at the dedicated space at Samsung Seoul R&D Campus for a year and can use many of the company’s employee facilities freely. These startups will also receive up to 100 million won in seed money to help them grow. The Korean company also assists these startups in attending international exhibitions such as the CES, MWC, IFA, etc.