Jang Hwa Jin, IBM Korea’s general manager, announced that Korean startup ATCARTA has been selected for the semi-finals of the IBM’s start-up bootcamp, SmartCamp. ATCARTA utilizes 3D scanning technology to create virtual reality contents of interior of homes.
Selected teams of the IBM SmartCamp will receive $25,000 investment and have an opportunity to participate in the San Francisco’s biggest startup event, LAUNCH. IBM SmartCamp, in partnership with startup incubator LAUNCH, allows selected startups to receive mentoring and investment from famous investors and business leaders.
After selecting 2 local representative teams from each of the 20 major cities including New York, LA, Tokyo, Dubai, Seoul, Amsterdam, Paris, and Hong Kong, and after undergoing a second round of a rigorous selection process, 10 teams have been announced to be in the semi-finals. 10 teams selected to be in the semi-finals have the opportunity to participate at the LAUNCH festival to introduce their solutions. Particularly, the final three teams chosen will have an opportunity to pitch in front of 500 investors who have participated in LAUNCH. The winning team will receive 25,000 dollars from the Jason Calacanis, an angel investor affiliated with LAUNCH incubator, and participate in the LAUNCH incubator program, receiving consultation on customer acquisition, sales, and business development.
ATCARTA, one of the 10 semi-finalists, developed a real estate brokerage solution by utilizing a self-developed scanner to scan interiors of homes and processing the content into a virtual reality environment. IBM Korea provides IBM cloud Bluemix to ATCARTA for 3D modeling data management and distribution.
“In the future, picture contents used in current real estate market will turn into 3D VR images. VR app can provide immersive experience for buyers, such as sitting in an apartment living room or moving furniture, even if they are not visiting the houses in person,” said ATCARTA CEO Kim Soo Jong. “Through IBM SmartCamp, startups like ATCARTA could receive mentoring from influential business leaders and investors, and receive help finding new growth opportunities and building a strategic roadmap through IBM developers.”
“Participating for the first time in the IBM SmartCamp as a country, I am glad that there was a team that made it to semi-finals from Korea,” said IBM Korea director Jung Chang Woo. “IBM Korea will continue to support creative and innovative Korean startups to enter the global market.”
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