For some time now (specifically since 2012), Samsung has been running a program called C-Lab Inside, which helps turn selected ideas of its employees into startups and raise money for them. Every year, the tech giant also selects several ideas from entrepreneurs not originating from it - it has another program called C-Lab Outside, which was created in 2018 and this year will support almost two dozen new startups from various industries.
The competition was considerable this time, over five hundred start-up companies sought not only financial support, of which Samsung eventually chose eighteen. They include areas such as artificial intelligence, health and fitness, so-called deep technology (Deep Tech; it is a sector covering, for example, AI, machine learning, virtual and augmented reality or the Internet of Things) or services.
Specifically, the following startups were selected: DeepX, mAy'l, Omnious, Select Star, Bitsensing, MindCafe, Litness, MultiplEYE, Perseus, DoubleMe, Presence, Verses, Platfos, Digisonic, Waddle, Pet Now, Dot and Silvia Health.
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All of the aforementioned start-ups will receive dedicated office space at Samsung's R&D center in Seoul, will be able to participate in international exhibitions, will be mentored by company experts, and will be provided with financial support of up to 100 million won per year (approx. 2 million crowns).
Samsung is holding an online showcase for these startups in early December to attract more investors. In total, since 2018, it has supported 500 startups (300 within the C-Lab Outside program, 200 through C-Lab Inside).
