KITA-BMW to Support Technology Verification and
Scale-up of Innovative Startups
- KITA, BMW Korea, Gyeonggi Center for Creative
Economy and Innovation, and Future Play signed MOU for 'Discovering Promising
Domestic Startups and PoC Support’ -
Korea International Trade Association (Chairman: Christopher Koo) announced
that it signed ‘MOU on Discovering Promising Domestic Startups and PoC Support’
with BMW Korea, Gyeonggi Center for Creative Economy and Innovation (GCCEI),
and Future Play at the COEX Startup Branch on July 16th.
Director Shin Seung-gwan of the Korea International Trade Association, R&D
Director Dieter Strobl of BMW Korea, Director Shin Hyun-sam of GCCEI, and CEO
Ryu Joong-hee of Future Play attended the signing ceremony.
on this MOU, the four organizations will jointly organize ‘BMW Testbed Project’
and also collaborate with BMW’s startup foster·investment program ‘Startup
Garage’ to discover promising startups and provide opportunities for overseas
expansion and technology verification. GCCEI will support funding for
technology verification while Future Play will provide consultations.
Korea International Trade Association had matched BMW and Seoul Robotics with
3D LiDAR technology in 2019. Then, Seoul Robotics was selected as a research
partner for the smart infrastructure development of the BMW manufacturing plant
after technical verification. In order to discover promising domestic startups
and help them expand to overseas, the association and BMW are working together
with the GCCEI and Future Play and jointly promote this test bed project.
BMW Testbed Project will begin by recruiting startups wishing to participate in
August and single out five startups after sharing the final technology
verification results in November based on three-month technical verification.
The selected startups will become business partners of BMW Korea. The startups
will be also recommended to BMW headquarters if their technical verification
results are remarkable. It will give them a comprehensive business cooperation
Director Shin Seung-gwan of the Korea International Trade Association, said,
“This test bed project will play a significant role in helping Korean startups
expand to overseas as it will provide an opportunity to cooperate with BMW, a
leader in the mobility industry, for systematic technical verification,” and
added, “We will create good success stories and with those experiences, we will
further expand open innovation opportunities with global conglomerates.”