Samsung Electronics said it would support five new spin-off startups produced through its in-house incubation program C-Lab. Samsung said that the move supports the country’s effort to strengthen the startup ecosystem encouraging technological innovation with creative business ideas.
In December 2012, Samsung launched C-Lab to nurture employee’s innovative ideas supporting their development from all areas of the business.
For this year, Samsung supported five new startups that demonstrate excellent market potential.
RootSensor, a new type of sensor, records daily exposure to UV light. Integrated with smart cars, and wearable devices, the sensor provides information on accumulated UV through a monitoring system.
SunnyFive is a lighting device shaped like a window providing artificial sunlight. It lets users enjoy the sun’s natural light passing through a window during the day. The device is best used for areas that have limited natural lighting.
Haxby, an AI-powered smart study note service, identifies the user’s performance level with each topic and recommends customized worksheets to improve competence.
Hyler is a smart highlighter that recognizes analog text that could transfer to mobile devices, which digitizes and collects them. Through the Hyler app, users could interact with information from dictionaries and search engines directly connected to the application.
Blockbuster, a video editing application, uses a patented algorithm that generates 3D computer graphics (CG) from 2D scenes. The app enables content creators to apply 3D effects and CG to videos through their smartphones.
Since the launch of the C-Lab spin-off program, Samsung successfully produced 45 startups with 163 participating employees. The values of the startups more than tripled since their spin-off, raising over 55 billion won ($45 million) in funding in a few years.
Under the C-Lab spin-off policy, the tech company also facilitates the launch of budding startups.
Samsung’s Creativity & Innovation Center vice president and head at Samsung, Hahn In-kuk, said that the results demonstrate the company’s commitment to promoting South Korea’s startup ecosystem. He added that they would continue to encourage the entrepreneurial spirit and creative innovation of Samsung’s employees, unlocking their potential.