Four Korean Startups Including Cremotech Win CES 2017 Innovation Awards

Domestic startups are making headlines for winning innovation awards at the CES exhibition.

The Ministry of Science, ICT and Future Planning (Minister Choi Yang-hee) announced that four domestic startups, including Cremotech, Mango Slab Co., Ltd., Salted Venture Co., Ltd., and Neofect, won the 'Innovation Awards' at CES 2017.

CES, marking its 50th anniversary this year, is set to showcase thousands of products with the participation of over 3,800 companies from more than 150 countries. Among them, a total of 446 products across 28 categories have been awarded 'Innovation Awards.' Additionally, 35 products were selected for the 'Best of Innovations' award, which is given only to the highest-scoring products in each category.

▲ Salted Ventures' IoT-based smart golf shoes 'IOFIT'

Cremotech, an incubated company at the Daejeon Creative Economy Innovation Center, developed a "Portable Laser Smart Beam" based on its proprietary laser optical technology and successfully won an award in the "Home AV Devices and Accessories" category for the second consecutive year. As a company discovered through SK Telecom's "Bravo Restart" program, Cremotech received support from the Daejeon Innovation Center for R&D at government-funded research institutes, connections with investors, new product design, and marketing. Through this, a $10 million export contract was signed with the US distributor KDC, and the company is pursuing the expansion of its product lineup into advanced automotive components such as HUDs based on laser optical technology.

Cremotech Develops 'Portable Laser Smart Beam'
Mango Slab, a smart printer capable of printing directly onto adhesive memo paper

Mango Slab Co., Ltd., which garnered attention for winning a CES Innovation Award just five months after spinning off from Samsung Electronics, is a graduate of the Daegu Creative Economy Innovation Center's startup incubation program, 'C-LAB' (4th cohort). Since moving into the Daegu Innovation Center last July, the company received 20 million won in initial investment through the C-Fund, and a follow-up investment review is scheduled for March of this year. In addition, the Daegu Innovation Center supported Mango Slab Co., Ltd.'s global expansion by providing funding for prototype production and airfare.

Through this, 'Nemonic,' developed by Mango Slab Co., Ltd., is a smart printer capable of printing notes from a smartphone directly onto adhesive paper. It received the highest score in the 'Computer Accessories' category and was selected for the CES 'Best of Innovations,' which was awarded to only 35 products.

Salted Venture Co., Ltd., which won in the 'Wearable Technology' category with its IoT-based smart golf shoes 'IOFIT', is also a graduate of the Daegu Creative Economy Innovation Center's 'C-LAB' (3rd cohort). The Daegu Innovation Center provided support including a 100 million won investment from the C-Fund and legal assistance through one-stop services, while the K-ICT Born2Global Center also supported overseas marketing. Last August, 'IOFit' achieved approximately $100,000 in pre-orders on the U.S. crowdfunding platform Kickstarter, which was more than three times its target amount of $30,000.

Neofect Exhibits Smart Glove for Stroke Rehabilitation

Neofect, which exhibited 'RAPAEL,' a smart glove for stroke rehabilitation, won the Innovation Award in the 'Fitness, Sports and Biotechnology' category.

▲ Neofect's Smart Glove for Stroke Rehabilitation

Neofect is a graduate of the 'K-Champ Lab' (2nd cohort), a startup incubation program of the Gyeonggi Creative Economy Innovation Center. It received investment from the KT-DSC fund (500 million KRW) and support for participation in international exhibitions such as the LA Global Roadshow and ITU World Telecom. It was also selected as a K-Global 300 company and received support through the K-ICT Born2Global Center for overseas patent, legal, and marketing consulting, as well as support for participation in overseas demo days in Silicon Valley and Beijing.

Through this active expansion into the global market, since November 2016, Raphael has been supplied to the Rehabilitation Institute of Chicago (RIC), ranked No. 1 among US rehabilitation hospitals by US News.

In addition to these award-winning companies, about 10 outstanding Korean startups, including Amadas, at CES 2017 We plan to set up a booth and begin full-scale promotion of innovative products.