Daehong Communications looks for startups to collaborate on open innovation

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Daehong Communications, a marketing solution company in Korea, is looking for participants in the Innovative & Creative Platform(ICP), a startup collaboration program for open innovation.

The mission of ICP is to expand the scope of existing advertising and marketing industry in order to keep pace with the digital economy. Advertising companies and startups will collaborate on product and service development, marketing planning, and advertising campaign production in order to develop a business model that incorporates creative ideas with technology. Qualifying companies will come from the field of future technology such as Artificial Intelligence, Virtual Reality or Internet of Things, or provide services and solutions that improve the quality of existing products and services.

Daehong Communications and Lotte Group’s corporate accelerator, Lotte Accelerator, will jointly recruit the participants. After a 6 month-long development period, a demo day will be held at the Lotte Innovative & Creative Show(LOTTE ICS), taking place in the latter half of this year. During this process, Daehong Communications will provide mentoring for product and service development, investment attraction, which includes direct investment, business tie-up, marketing and publicity.

Daehong Communications has been discovering startups that differentiate themselves in various fields of digital solutions such as Merged Reality, Internet of Things, and Biotechnology. They have showcased new forms of marketing at the ICS every year. In 2015 and 2016, ten and eight startups participated in the ICS respectively.

Last year, promising startups such as 4STEC and Chromach participated in the ICS event and presented products that were well received. Successful products include creative digital products such as “Heartful Cuckoo”, which brings family closer by applying IoT technology on rice cooker and smartphone, “Skin Scanning Mask Pack”, through which one can receive personal advice based on skin analysis handled by the cutting-edge biotechnology, and “Praising Camera”, which significantly reduces traffic accidents due to speed violations of rental cars in Jeju Island.

ICP can be seen as an attempt similar to that of a hackathon, where creative minds come together to push their creativity to solve interesting problems. This time, however, one should pay attention to not only the products but also the creative marketing strategies and business plans that emerge from the collaboration program.

Inspired by Platum

JunSu is a junior at Carnegie Mellon University majoring in Electrical and Computer Engineering. He enjoys meeting people from all over the world and exploring the role of technology in people’s daily lives. You can reach him at: junsu.jang@techforkorea.com

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