On October 23, the Ministry of SMEs and Startups (MSS) joined forces with global industry leaders, including LG Electronics, Intel Korea, and Microsoft Korea, to showcase the successes of the On-device AI Challenge. This initiative is aimed at nurturing innovation among AI startups, providing them an avenue to both present their projects and explore avenues for commercializing their developed AI technologies.

The on-device AI sector, crucial for AI innovation, faces intense global competition. To address this, MSS launched the On-device AI Challenge, designed to help AI startups develop cutting-edge technologies and merge their innovations with mainstream products. As part of this initiative, startups have the opportunity to integrate their technologies into LG Electronics’ products, promoting growth for both established companies and new entrants.

The On-device AI Challenge is a collaborative initiative involving major global companies to foster innovation within AI startups specializing in on-device technology. Eligible startups, operating for less than ten years, receive support in areas such as technological development, funding, and commercialization, to push forward their innovative solutions.

Startups like CLIKA, Gamba Labs, and Prairie Schooner are currently being evaluated for the integration of their technology into LG Electronics’ newly released laptops, following further collaboration and reviews. This initiative not only bolsters the collaboration between startups and established companies but is also expected to drive future sales growth for these startups.

Vice Minister Kim Sung-sup highlighted the significant role of startups in creating economic and social value through innovative technologies. “MSS is committed to enhancing the global competitiveness of South Korean AI startups by facilitating their partnerships with major corporations, thereby establishing their leadership in the technology sector,” he commented.