KT Takes the Lead in Creating a Smart Car Ecosystem with 'Smart Car Open Contest'
Published2016.03.18 17:18We plan to jointly pursue commercialization and make direct investments with future winning teams.
KT (CEO Hwang Chang-gyu) announced that it held the 'Smart Car Open Contest' to revitalize the smart car ecosystem and conducted an awards ceremony on the 18th.
This contest is part of the 'Creation of a Smart Car Ecosystem Based on IoT and Big Data' project, selected through the Future Growth Engine Flagship Project promoted by the Ministry of Science, ICT and Future Planning, the Creative Economy Promotion Team, and the National Information Society Agency. In December 2015, KT released the API of its self-developed 'Comprehensive Vehicle Information Service' to the entire nation for free to make vehicle big data more accessible to companies and the general public, and held an idea contest to stimulate the discovery of ideas for creating new businesses.
With competition rates of 9:1 in the general category and 4:1 in the corporate category, a total of 10 teams advanced to the finals after approximately two months of preliminary and main rounds. Among them, five teams from the general category were provided with KT's smart car commercialization know-how training and startup mentoring.
KT plans to decide whether to invest in the winning teams of the 'Smart Car Open Contest' selected on the 18th after comprehensively analyzing their technological capabilities, marketability, and public interest. It was announced that for the teams that pass the investment review, there are plans to match them one-on-one with relevant departments to coach them on the preparation process for actual commercialization for about six months, and to conduct joint marketing to promote business.
Song Jae-ho, Senior Vice President and Head of KT’s Future Business Development Group, stated, “KT will not simply end the innovative ideas and passion of the selected companies and the general public with awards for the contest. Instead, we will take the lead in revitalizing Korea’s smart car ecosystem by supporting the commercialization of many companies essential for the smart car era, based on the 10,000 connected cars secured through cooperation with the government.”
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