Seoul AI Hub Joins Forces With Taiwan Innovation Hub to Support AI and Semiconductor Startups' Overseas Expansion
TECHWORLD ·
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Seoul AI Hub announced on the 11th that it has signed a memorandum of understanding (MOU) with INNOPAD TAIPEI.
The agreement focused on linking startup, investment, industry and research networks in Seoul and Taipei.
The two sides agreed to advance market validation, investment connections, R&D, commercialization, joint IR, a residence program, and the mutual use of conferences, exhibitions, networks and infrastructure in stages.
Seoul AI Hub announced on the 11th that it has signed a memorandum of understanding (MOU) with INNOPAD TAIPEI. Seoul AI Hub has begun supporting Seoul AI startups' expansion into Taiwan in partnership with the international startup innovation hub. The agreement focuses on linking startup, investment, industry and research networks in Seoul and Taipei.
The two sides are pursuing a plan to build a cooperative framework that extends from market validation and investment connections to research and development (R&D) and commercialization. As a result, companies at Seoul AI Hub will be able to connect with local customers, companies, research institutions and investors in Taiwan through INNOPAD TAIPEI.
Taiwanese startups can broaden their points of contact with South Korea's AI industry ecosystem through Seoul AI Hub. The agreement includes a structure that will allow startups from both sides to access each other's ecosystems and local resources.
INNOPAD TAIPEI is an international startup innovation hub supported by the Taipei City Government. Taiwan's Industrial Technology Research Institute (ITRI) also participates in the operation of INNOPAD TAIPEI. The hub supports overseas startups with local settlement, acceleration, company matching and resource linkage.
The two organizations have agreed to move ahead step by step with joint IR and investor connections, the discovery of joint research opportunities in AI and semiconductors, a Seoul-Taipei startup residence program, and the mutual use of conferences, exhibitions, networks and infrastructure as phased initiatives.
A priority item under review is a residence-style exchange program in which startups spend a set period of time working in the partner city. The program will be carried out by allowing member companies and tenants of Seoul AI Hub to use INNOPAD TAIPEI office space and facilities, with the goal of confirming local customer demand and business viability. Taiwanese startups will also be given opportunities to use Seoul AI Hub infrastructure and programs to support reviews of the Korean market.
The project will begin as a small-scale pilot program, with expansion of participation and support based on results and company demand.
In the investment area, the two organizations plan to mutually recommend startups to IR demo days and startup events held in Seoul and Taipei, and to arrange investor meetings for local venture capital (VC), corporate venture capital (CVC) and strategic investors.
The cooperation will focus on R&D in AI and semiconductors and will connect Seoul AI Hub companies with Taiwan's research and industrial network, including ITRI. The plan includes joint research projects, proof of concept (PoC) efforts and the identification of commercialization partners.
With this agreement, Seoul AI Hub aims to expand the foundation for cooperation across Asia. It has already signed an MOU with the Czech AI Association and is seeking opportunities to collaborate with major AI organizations in France, the United Kingdom, Canada and Germany.
Byun Woo-seok, head of Seoul AI Hub, said that for AI startups seeking to expand overseas, more important than simple networking are local touchpoints that verify technology and business models and directly connect companies, investors and research institutions. He also said the agreement will lay the groundwork for Seoul companies to tap Taipei's industrial and research ecosystem.
Source: TECHWORLD · Kim Seung-gi
Original: https://www.epnc.co.kr/news/articleView.html?idxno=406845
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Source: TECHWORLD
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